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The Unemployment Invariant Hypothesis: Heterogeneous Panel Cointegration Evidence from U.S. State Level Data

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Figure

Table 1: Pesaran (2004) cross-sectional dependence test and average correction coefficients
Table 3: Panel cointegration tests
Table 5: Vector-error-correction model, long-run causality and short run dynamic
Figure 1: Dynamic ordinary least square estimates of the long-run relationship between labor force participation rates and the unemployment rates
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