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Asymmetric and time-varying error-correction: an application to labour demand in the UK

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dc.affiliation.dptoUC3M. Departamento de Estadísticaes
dc.contributor.authorBurgess, Simon M.
dc.contributor.authorEscribano, Álvaro
dc.contributor.authorPfann, Gerard A.
dc.contributor.editorUniversidad Carlos III de Madrid. Departamento de Estadística
dc.date.accessioned2009-02-17T10:27:23Z
dc.date.available2009-02-17T10:27:23Z
dc.date.issued1993-11
dc.description.abstractIn 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.
dc.format.mimetypeapplication/pdf
dc.identifier.urihttps://hdl.handle.net/10016/3681
dc.language.isoeng
dc.relation.ispartofseriesUC3M Working Papers. Statistics and Econometrics;
dc.relation.ispartofseries1993-31-22
dc.rightsAtribución-NoComercial-SinDerivadas 3.0 España
dc.rights.accessRightsopen access
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/es/
dc.subject.ecienciaEstadística
dc.subject.otherNonlinear dynamics
dc.subject.otherNonlinear error correction
dc.subject.otherDynamic labour demand
dc.titleAsymmetric and time-varying error-correction: an application to labour demand in the UK
dc.typeworking paper*
dspace.entity.typePublication
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