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The robustness of Okun's law in Spain, 1980-2004: Regional evidence

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Author Info

  • Villaverde, José
  • Maza, Adolfo

Abstract

The purpose of this paper is to analyse Okun's law for the Spanish regions over the period 1980-2004. Based on its "gap" specification, the results show that an inverse relationship between unemployment and output holds for most of the regions and for the whole country. However, the quantitative values of Okun's coefficients are quite different, a result that is partially explained by regional disparities in productivity growth. These differences imply that, when it comes to policy issues, conventional aggregate demand/supply management policies should be combined with region-specific policies.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 31 (2009)
Issue (Month): 2 ()
Pages: 289-297

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Handle: RePEc:eee:jpolmo:v:31:y:2009:i:2:p:289-297

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Web page: http://www.elsevier.com/locate/inca/505735

Related research

Keywords: Okun's law Unemployment Output Productivity Spanish regions;

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Cited by:
  1. Cristiano Perugini & Marcello Signorelli, 2007. "Labour Market Performance Differentials and Dynamics in EU-15 Countries and Regions," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 4(2), pages 209-262, September.
  2. Sahin, Afsin & Tansel, Aysit & Berument, Hakan, 2011. "Output-Employment Relationship across Sectors: A Long- versus Short-Run Perspective," MPRA Paper 46875, University Library of Munich, Germany, revised 07 Jun 2012.
  3. Ryan W Herzog, 2013. "An Analysis of Okun's Law, the Natural Rate, and Voting Preferences for the 50 States," Economics Bulletin, AccessEcon, vol. 33(4), pages 2504-2517.
  4. KARGI, Bilal, 2013. "Okun’s Law and Long Term Co-Integration Analysis for OECD Countries (1987-2012)," MPRA Paper 55700, University Library of Munich, Germany.
  5. Marie-Estelle Binet & François Facchini, 2012. "Okun’S Law In The French Regions: A Cross-Regional Comparison," Economics Working Paper Archive (University of Rennes 1 & University of Caen) 201222, Center for Research in Economics and Management (CREM), University of Rennes 1, University of Caen and CNRS.
  6. Brock, Gregory & German-Soto, Vicente, 2013. "Regional industrial growth in Mexico: Do human capital and infrastructure matter?," Journal of Policy Modeling, Elsevier, vol. 35(2), pages 228-242.
  7. Rui M. Pereira, 2014. "Okun's Law, Asymmetries and Regional Spillovers: Evidence from Virginia Metropolitan Statistical Areas and the District of Columbia," Working Papers 140, Department of Economics, College of William and Mary.
  8. Revoredo-Giha, Cesar & Leat, Philip M.K. & Renwick, Alan W., 2012. "The relationship between output and unemployment in Scotland: A regional analysis," Working Papers 131465, Scottish Agricultural College, Land Economy Research Group.

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