Table 1 Beveridge curve estimation
From: Shifts in euro area Beveridge curves and their determinants
Dependent | (1) | (2) | (3) | (4) | (5) |
|---|---|---|---|---|---|
var.: U t | EA | DE | ES | FR | IT |
U t−1 | 1.53*** | 1.99*** | 1.57*** | 1.25*** | 1.03*** |
(0.11) | (0.10) | (0.07) | (0.10) | (0.10) | |
U t−2 | –0.57*** | –1.38*** | –0.63*** | –0.36*** | –0.06 |
(0.20) | (0.18) | (0.07) | (0.09) | (0.10) | |
U t−3 | 0.20 | 0.36*** | |||
(0.20) | (0.09) | ||||
U t−4 | –0.42** | ||||
(0.19) | |||||
U t−5 | 0.20** | ||||
(0.09) | |||||
L S t | –0.02*** | –0.03* | –0.05 | –0.02*** | –0.02* |
(0.01) | (0.01) | (0.05) | (0.01) | (0.01) | |
L S t−1 | –0.01 | –0.07 | |||
(0.02) | (0.05) | ||||
L S t−2 | 0.02 | –0.00 | |||
(0.02) | (0.05) | ||||
L S t−3 | –0.00 | –0.03 | |||
(0.01) | (0.05) | ||||
\(D^{\text {cri}}_{t}{LS}_{t}\) | 0.02* | 0.02 | 0.06 | 0.02 | –0.07 |
(0.01) | (0.01) | (0.07) | (0.02) | (0.08) | |
\(D^{\text {cri}}_{t-1}{LS}_{t-1}\) | –0.03 | 0.11 | |||
(0.02) | (0.08) | ||||
\(D^{\text {cri}}_{t-2}{LS}_{t-2}\) | 0.05*** | 0.10 | |||
(0.02) | (0.08) | ||||
\(D^{\text {cri}}_{t-3}{LS}_{t-3}\) | –0.03** | –0.13* | |||
(0.01) | (0.07) | ||||
\(D^{\text {emu}}_{t}\) | –0.07*** | 0.02 | –0.28*** | –0.15** | –0.19*** |
(0.03) | (0.03) | (0.10) | (0.07) | (0.07) | |
\(D^{\text {cri}}_{t}\) | 0.09** | –0.10** | 0.53*** | 0.14** | –0.02 |
(0.04) | (0.04) | (0.16) | (0.05) | (0.21) | |
\(D^{\text {rec}}_{t}\) | 0.12** | 0.04 | 0.33*** | 0.10 | 0.18*** |
(0.05) | (0.03) | (0.12) | (0.07) | (0.06) | |
Cons. | 0.51*** | 0.22** | 1.05*** | 1.09*** | 0.32* |
(0.10) | (0.09) | (0.25) | (0.30) | (0.17) | |
Obs. | 104 | 97 | 104 | 96 | 104 |
Adj- R 2 | 0.99 | 1.00 | 1.00 | 0.97 | 0.98 |
RMSE | 0.10 | 0.10 | 0.27 | 0.17 | 0.25 |