What determines unemployment in the long run? : Band spectrum regression on ten countries, 1913-2016
This paper presents an empirical analysis of the relation between un-employment and macroeconomic performance. A strong correlation hasbeen pointed out before, but a crucial question is over what time-horizonthis holds. To the best of our knowledge, no previous cross-country studyhas shown that there is a long-run relationship between unemploymentand macroeconomic performance over a time-period th