Abstract:

Due to domestic or external shocks in the economy, unemployment rate increases are called unemployment hystery when the impact of the shocks has passed, and they do not fall to their old levels again. The reduction of unemployment rates in the world after the 1973 oil crisis has become one of the main objectives of macroeconomic policies. After the oil crisis, unemployment has increased. In 1986 O. Blanchard and L. Summers studied the concept of unemployment hystery for the first time. The presence of unemployment hystery is of importance in terms of the effectiveness of employment policies to be carried out for the purposes of combating national or international unemployment. In countries with unemployment hysterics, the effectiveness of employment policies remains low. But in economies where unemployment hysterics are not present, unemployment is not among the causes of macroeconomic instability. Therefore, before the establishment of national employment policies, the establishment of the validity status of unemployment hystery in the labour market is of great importance in the establishment and success of policies. This study also investigates the status of unemployment hystery in the economies of the countries concerned in order to help determine employment policies in Azerbaijan, Kyrgyzstan, Kazakhstan, Uzbekistan, Turkmenistan and Turkey. The validity of the unemployment hystery of Azerbaijan, Kyrgyzstan, Kazakhstan, Uzbekistan, Turkmenistan and Turkey between 1991-2016 years, which declared independence with the dissolution of the Soviet Union in 1991, was studied by Levin Lin Chu, Fisher type Augmented Diceky Fuller and Fisher type Phillip Perron panel unit root tests. According to the findings of the study, the findings have found that the hypothesis of unemployment hystery in the Turkish Republics in the period in question is valid.

Keywords: