Table 3.
(1) | (2) | (3) | (4) | |
---|---|---|---|---|
| ||||
Δ ln TF | Δ ln TF | Δ ln TF | Δ ln TF | |
Δ ln unemployment (t-1) | −0.011 (−2.07) | −0.010 (−2.04) | −0.010 (−1.88) | |
Δ ln unemployment (t-2) | −0.006 (−1.19) | −0.005 (−1.01) | ||
GDP per head growth (t-1) | 0.000 (0.23) | 0.000 (0.36) | −0.000 (−0.20) | 0.0004 (1.34) |
GDP per head growth (t-2) | −0.000 (−0.70) | −0.000 (−0.96) | −0.000 (−0.29) | |
Debt crisis 1983–84 | −0.010 (−1.97) | |||
Joint significance of unemployment lags (p-value) | 2.78 (0.063) | 2.20 (0.112) | ||
Observations | 373 | 394 | 373 | 373 |
| ||||
Number of countries | 18 | 18 | 18 | 18 |