La ley de Okun en el Perú: 1970-2000
AbstractThe objective of this work is to analyze the existing relation between employment, unemployment and production, by means of the estimation of the Okun coefficient for the Peruvian Economy. A previous step consists in the estimation of the employment-production elasticity. Both parameters are important elements for macroeconomic policy design, and the evaluation of its effects on employment and welfare. Based on a cointegration analysis we find a positive long-term relation between the employment rate and Lima's GDP throughout the period, where the employment rate rises in 0.0288 percentage points for a rise of 1000 nuevos soles of 1979. We also estimate an Okun coefficient of 0.0845, its low value is only comparable with those of Japan, Bolivia and Argentina. In Peru's case, the reason for this low coefficient can be found in the procyclical behavior of the labor force, and in the fact that workers retire from the labor market when they lose their post. We also find that the rate of growth of the GDP must be at least of 3.31% in order to keep the unemployment rate from rising, and of about 11% to lower the unemployment rate in one point. Finally, we estimate recursive Okun coefficients based on the cyclical components of the series, which gives us a range between 0.02 and 0.12 for the whole period.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoArticle provided by Departamento de Economía - Pontificia Universidad Católica del Perú in its journal Revista Economía.
Volume (Year): (2003)
Issue (Month): 51-52 ()
Contact details of provider:
Postal: Av. Universitaria 1801, San Miguel, Lima, Perú
Phone: (511) 626-2000 ext. 4950, 4951
Fax: (511) 626-2874
Web page: http://www.pucp.edu.pe/departamento/economia/
More information through EDIRC
Other versions of this item:
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Luis García Núñez, 2012. "Desprotección en la tercera edad: ¿estamos preparados para enfrentar el envejecimiento de la población?," Documentos de Trabajo 2012-330, Departamento de Economía - Pontificia Universidad Católica del Perú.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephan Gruber).
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.