Unemployment rate for various countries since 2005 to 2012: comparison of its level and pace using functional principal component analysis
Unemployment rate for various countries since 2005 to 2012: comparison of its level and pace using functional principal component analysis

Summary/Abstract: We apply the functional principal component analysis to compare the unemployment rate in euro area, Japan and USA since 2005 to 2012. For preprocessing analysis we used B-splines system with roughness penalty for smoothing the data. The analysis enables to reveal the most important type of variation in unemployment rate and its pace's in examined countries.

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