Spanish Regional Unemployment Disentangling the Sources of Hysteresis / by Alejandro García-Cintado, Diego Romero-Ávila, Carlos Usabiaga.
This work investigates the time series properties of the unemployment rate of the Spanish regions over the period 1976-2011. For that purpose, the authors employ the PANIC procedures of Bai and Ng (2004), which allows to decompose the observed unemployment rate series into common factor and idiosync...
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