Banco Central de Reserva del Perú Banco Central de Reserva del Perú Investigación Económica y Financiera
ES

Have European Unemployment Rates Converged?

By ;

March 2009

Language: English

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Have European Unemployment Rates Converged?

Keywords

  • European Union
  • stochastic-convergence and beta-convergence
  • unemployment rate

JEL Classification

  • C22
  • C52
  • E24
  • J60

Abstract

Using different unit root statistics and the approach of Tomljanovich and Vogelsang (2002), we test for the existence of stochastic and ß - convergence in the unemployment rates of a set of thirteen European countries. Using quarterly data for the period 1984: 1-2005: 4, we observe that there has taken place a convergence process in the majority of European unemployment rates. This process has become more intense since 1993.