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Please use this identifier to cite or link to this item:
http://hdl.handle.net/10016/3681
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| ws933122.pdf | -- 2009-02-17 -- Available on Internet -- preprint | 496,68 kB | Adobe PDF | |  |
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| Title: | Asymmetric and time-varying error-correction: an application to labour demand in the UK |
| Author(s): | Burgess, Simon M.
Escribano, Álvaro [alvaroe]
Pfann, Gerard A. |
| Publisher: | Universidad Carlos III de Madrid. Departamento de Estadística |
| Issued date: | Nov-1993 |
| URI: | http://hdl.handle.net/10016/3681 |
| Abstract: | In this paper we compare the asymmetric and time-varying error-correction models that have recently been proposed, and apply these to the case of UK aggregate labour demand. The aim of the paper is to investigate the possible co-existence of time-varying adjustment on the one hand, and constant asymmetric error-correction on the other hand. We find that without allowing for time-varying adjustment variables, the asymmetric error-correction models of Granger and Lee (1989) and Escribano (1986) work well. But once the time-varying adjustment variables are included, the evidence for time-invariant asymmetric adjustment is marginal. |
| Serie / Nº.: | UC3M Working Papers. Statistics and Econometrics;
1993-31-22 |
| Keywords: | Nonlinear dynamics
Nonlinear error correction
Dynamic labour demand |
| Appears in Collections: | Economists Online
DES - Working Papers. Statistics and Econometrics. WS
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