A simple nonlinear dynamic model for unemployment: Explaining the spanish case
type: Item
instance of: scholarly article
title: A simple nonlinear dynamic model for unemployment: Explaining the spanish case
zbMATH Open document ID: 1141.91575
DOI: 10.1155/2008/981952
author: João Ricardo Faria
author: Miguel A. León-Ledesma
published in: Discrete Dynamics in Nature and Society
publication date: 2008-08-20T00:00:00Z
full work available at URL: https://eudml.org/doc/129109
review text: Summary: Spanish unemployment is characterized by three distinct regimes of low, medium, and high unemployment and by a fast transition between them. This paper presents a simple nonlinear dynamic model that is able to explain this behavior with multiple equilibria and jumps describing the transition between equilibria. The model has only a small number of parameters capturing the fundamentals of labor markets and macroeconomic and institutional factors. The model is capable of generating unemployment dynamics that encompass the ``unique'' natural rate hypothesis, the structuralist hypothesis, and the hysteresis hypothesis.
Mathematics Subject Classification ID: 91B40
Mathematics Subject Classification ID: 91B76
Mathematics Subject Classification ID: 37N40
zbMATH DE Number: 5314271
Wikidata QID: Q58644568
MaRDI profile type: Publication
OpenAlex ID: W1975757631
cites work: A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle
cites work: ON THE DETERMINATION OF THE NUMBER OF REGIMES IN MARKOV-SWITCHING AUTOREGRESSIVE MODELS
cites work: UNEMPLOYMENT, GROWTH, AND FISCAL POLICY: NEW INSIGHTS ON THE HYSTERESIS HYPOTHESIS
description: scientific article; zbMATH DE number 5314271