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Panel Causality and Cointegration between Productivity and Unemployment

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  • João Tovar Jalles

Abstract

This paper empirically investigates the link between productivity and unemployment in a panel of 19 OECD countries between 1970 and 2010. By means of recently developed panel data econometric methods, we find that unemployment and productivity are non-stationary in levels and they are cointegrated for the panel as a whole. In terms of causality, the stronger directional relationship runs from unemployment to productivity. Furthermore, the long-run effect seems to be generally positive, therefore favouring of those theories which suggest that prolonged recessions foster long-run productivity improvements.

Suggested Citation

  • João Tovar Jalles, 2015. "Panel Causality and Cointegration between Productivity and Unemployment," Applied Economics Quarterly (formerly: Konjunkturpolitik), Duncker & Humblot GmbH, Berlin, vol. 61(2), pages 141-153.
    • Handle: RePEc:dah:aeqaeq:v61_y2015_i2_q2_p141-153
    DOI: 10.3790/aeq.61.2.141
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