Employment hysteresis in the United States during the COVID-19 pandemic

In this paper, we test the validity of the employment hysteresis hypothesis. For this purpose, we use daily employment data at the national and state levels in the United States from January 8, 2020, to May 30, 2020. We apply the modified version of the Kapetanios-Shin unit root test, along with fin...

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Autores principales:	Xinyi Zhang, Giray Gozgor, Zhou Lu, Jinhua Zhang
Formato:	article
Lenguaje:	EN
Publicado:	Taylor & Francis Group 2021
Materias:	employment hysteresis hypothesis covid-19 pandemic united states nonlinear unit root tests half-life Economic growth, development, planning HD72-88 Regional economics. Space in economics HT388
Acceso en línea:	https://doaj.org/article/8beb876f1be1472c89a70e38b383a434
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id	oai:doaj.org-article:8beb876f1be1472c89a70e38b383a434
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spelling	oai:doaj.org-article:8beb876f1be1472c89a70e38b383a4342021-11-26T11:19:47ZEmployment hysteresis in the United States during the COVID-19 pandemic1331-677X1848-966410.1080/1331677X.2021.1875253https://doaj.org/article/8beb876f1be1472c89a70e38b383a4342021-01-01T00:00:00Zhttp://dx.doi.org/10.1080/1331677X.2021.1875253https://doaj.org/toc/1331-677Xhttps://doaj.org/toc/1848-9664In this paper, we test the validity of the employment hysteresis hypothesis. For this purpose, we use daily employment data at the national and state levels in the United States from January 8, 2020, to May 30, 2020. We apply the modified version of the Kapetanios-Shin unit root test, along with finite-sample critical values. We find that the employment hysteresis hypothesis is valid in the United States during the COVID-19 era. The validity of the findings does not change when data at the national and state levels are used. The evidence is also valid when the employment levels for all firms and small firms are considered. The results are also robust to employment levels for workers at different income levels and employment in five different sectors.Xinyi ZhangGiray GozgorZhou LuJinhua ZhangTaylor & Francis Grouparticleemployment hysteresis hypothesiscovid-19 pandemicunited statesnonlinear unit root testshalf-lifeEconomic growth, development, planningHD72-88Regional economics. Space in economicsHT388ENEkonomska Istraživanja, Vol 34, Iss 1, Pp 3343-3354 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	employment hysteresis hypothesis covid-19 pandemic united states nonlinear unit root tests half-life Economic growth, development, planning HD72-88 Regional economics. Space in economics HT388
spellingShingle	employment hysteresis hypothesis covid-19 pandemic united states nonlinear unit root tests half-life Economic growth, development, planning HD72-88 Regional economics. Space in economics HT388 Xinyi Zhang Giray Gozgor Zhou Lu Jinhua Zhang Employment hysteresis in the United States during the COVID-19 pandemic
description	In this paper, we test the validity of the employment hysteresis hypothesis. For this purpose, we use daily employment data at the national and state levels in the United States from January 8, 2020, to May 30, 2020. We apply the modified version of the Kapetanios-Shin unit root test, along with finite-sample critical values. We find that the employment hysteresis hypothesis is valid in the United States during the COVID-19 era. The validity of the findings does not change when data at the national and state levels are used. The evidence is also valid when the employment levels for all firms and small firms are considered. The results are also robust to employment levels for workers at different income levels and employment in five different sectors.
format	article
author	Xinyi Zhang Giray Gozgor Zhou Lu Jinhua Zhang
author_facet	Xinyi Zhang Giray Gozgor Zhou Lu Jinhua Zhang
author_sort	Xinyi Zhang
title	Employment hysteresis in the United States during the COVID-19 pandemic
title_short	Employment hysteresis in the United States during the COVID-19 pandemic
title_full	Employment hysteresis in the United States during the COVID-19 pandemic
title_fullStr	Employment hysteresis in the United States during the COVID-19 pandemic
title_full_unstemmed	Employment hysteresis in the United States during the COVID-19 pandemic
title_sort	employment hysteresis in the united states during the covid-19 pandemic
publisher	Taylor & Francis Group
publishDate	2021
url	https://doaj.org/article/8beb876f1be1472c89a70e38b383a434
work_keys_str_mv	AT xinyizhang employmenthysteresisintheunitedstatesduringthecovid19pandemic AT giraygozgor employmenthysteresisintheunitedstatesduringthecovid19pandemic AT zhoulu employmenthysteresisintheunitedstatesduringthecovid19pandemic AT jinhuazhang employmenthysteresisintheunitedstatesduringthecovid19pandemic
_version_	1718409546732404736

Employment hysteresis in the United States during the COVID-19 pandemic

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