RT Generic
T1 Asymmetric and time-varying error-correction: an application to labour demand in the UK
A1 Burgess, Simon M.
A1 Escribano, Álvaro
A1 Pfann, Gerard A.
A2 Universidad Carlos III de Madrid. Departamento de Estadística, 
AB 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.
YR 1993
FD 1993-11
LK https://hdl.handle.net/10016/3681
UL https://hdl.handle.net/10016/3681
LA eng
DS e-Archivo
RD 3 may. 2024