UNEMPLOYMENT EVOLUTION IN THE GCC ECONOMIES: ITS NATURE AND RELTIONSHIP TO OUTPUT GAPS

摘要: Utilizing a combination of time series and cross section data, research conducted here investigates the evolution unemployment in GCC economies its rapid increase over past two decades. At micro-level, paper applies selectivity, multinomial multivariate probit models order to test hypothesis that is voluntary. In macro analysis, Granger causality tests, panel data OLS regressions determine persistence gauge effect output gaps other macroeconomic variables on evolution. By large, findings indicate heterogeneous, largely involuntary, correlated with gaps. The derives set policy conclusions for reducing long-term economies.