The Italian labour market is characterized by large and persistent regional unemployment differentials. This study uses recent panel unit root and cointegration tests to derive the long-run properties of the Italian regional unemployment disparities. The empirical evidence suggests that the stochastic convergence hypothesis can be rejected. However, the existence of a long-run equilibrium relationship among regional unemployment rates cannot be excluded. Some possible implications of this finding are sketched.
Divergence and Long-Run Equilibria in Italian Regional Unemployment Rates / Costantini, M; Lupi, C. - In: APPLIED ECONOMICS LETTERS. - ISSN 1350-4851. - 13:(2006), pp. 899-904. [10.1080/13504850500425758]
Divergence and Long-Run Equilibria in Italian Regional Unemployment Rates
COSTANTINI M;
2006
Abstract
The Italian labour market is characterized by large and persistent regional unemployment differentials. This study uses recent panel unit root and cointegration tests to derive the long-run properties of the Italian regional unemployment disparities. The empirical evidence suggests that the stochastic convergence hypothesis can be rejected. However, the existence of a long-run equilibrium relationship among regional unemployment rates cannot be excluded. Some possible implications of this finding are sketched.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.