Table A4.

Symmetry of Positive and Negative Unemployment Rate Changes.

		Main Spec.		Interacted Specification
		(Table 4) (1)		Positive Change (2)	Negative Change (3)
Claims	Coef.	4,455***	4,249***	4,458***
	SE	(978)		(957)	(993)
	Mean DV	1,35,945		1,35,945	1,35,945
	Pct. Change	3.3		3.1	3.3
	Elasticity	0.25		0.12	0.12
Allowances	Coef.	873*	998**	872*
	SE	(458)		(449)	(449)
	Mean DV	46,627		46,627	46,627
	Pct. Change	1.9		2.1	1.9
	Elasticity	0.14		0.08	0.07
Denials	Coef.	3,582***	3,251***	3,586***
	SE	(545)		(524)	(567)
	Mean DV	89,318		89,318	89,318
	Pct. Change	4.0		3.6	4.0
	Elasticity	0.31		0.14	0.15
Total Allowances	Coef.	1,860***	1,940***	1,859***
	SE	(555)		(543)	(549)
	Mean DV	73,751		73,751	73,751
	Pct. Change	2.5		2.6	2.5
	Elasticity	0.19		0.10	0.10
Total Denials	Coef.	2,596***	2,310***	2,599***
	SE	(446)		(428)	(465)
	Mean DV	62,194		62,194	62,194
	Pct. Change	4.2		3.7	4.2
	Elasticity	0.32		0.14	0.16

Notes:

^***Significant at the 1% level.

^**Significant at the 5% level.

^*Significant at the 10% level. Column 1 reproduces the estimated coefficient on unemployment from the main specification (Table 4). Columns 2–3 present estimated coefficients on unemployment interacted with indicator for positive or negative change with respect to prior month, respectively, from the same regression.