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Wei-fong Pan
''Unemployment and confidence in Canada: Evidence from national and regional level data''
( 2018, Vol. 38 No.2 )
This study investigates the relationship between unemployment and confidence in Canada, using both panel data, which considers cross-sectional dependence and heterogeneity among the regions, and time series causality tests. A unidirectional causal relationship from confidence to unemployment, including total, male, female, long-term, and youth unemployment, is found. This indicates that confidence can predict unemployment. The results further highlight the importance of considering regional differences and cross-sectional dependence when performing the analysis. Moreover, improving confidence would help ameliorate the unemployment problem at the aggregate level and for specific groups, such as youth and females, and reduce the duration of unemployment.
Keywords: regional unemployment, confidence, youth unemployment, animal spirits
JEL: J6 - Mobility, Unemployment, and Vacancies: General
R1 - General Regional Economics (includes Regional Data)
Manuscript Received : Aug 28 2017 Manuscript Accepted : Jun 03 2018

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