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SSRN Electronic Journal
Article . 2006 . Peer-reviewed
Data sources: Crossref
EconStor
Research . 2006
Data sources: EconStor
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Panel Tests for Unit Roots in Hours Worked

Authors: Kappler, Marcus;

Panel Tests for Unit Roots in Hours Worked

Abstract

Hours worked is a time series of interest in many empirical investigations of the macroeconomy. Estimates of macro elasticities of labour supply, for example, build on this variable. Other empirical applications investigate the response of hours worked to a shock to technology on the basis of the real business cycle model. Irrespective of the problem being addressed, robust inference of empirical outcomes strongly hinges on the adequately modelling of the time series of hours worked. The aim of the present paper is to provide cross country evidence of the nonstationarity of hours worked for OECD countries. For these purposes, panel unit root tests are employed to improve power against univariate counterparts. Since cross section correlation is a distinct feature of the underlying panel data, results are based on various second generation panel unit root tests which account for cross section dependence among units. If an unobserved common factor model is assumed for generating the observations, there is indication for both a common factor and idiosyncratic components driving the non-stationarity of hours worked. In addition, taking these results together, there is no indication of cointegration among the individual time series of hours worked.

Country
Germany
Keywords

cointegration, 330, ddc:330, J22, Hours worked, unobserved common factor, Unit Root Test, OECD-Staaten, cross section dependence, Arbeitszeit, Panel, Hours worked,panel unit root,cross section dependence,unobserved common factor,cointegration, Zeitreihenanalyse, panel unit root, C22, C23, Schätzung, jel: jel:C23, jel: jel:C22, jel: jel:J22

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selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
3
Average
Average
Average
Green
bronze