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An examination of Okun's law: evidence from regional areas in Greece

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  • Nicholas Apergis
  • Anthony Rezitis

Abstract

This paper estimates Okun's coefficient for certain regional areas in Greece over the period 1960-1997. Through the Hodrick-Prescott filtering and the band-pass filtering the empirical analysis shows that that the coefficients do not exhibit substantial interregional differences, except for the cases of Epirus and North Aegean Islands. In these two cases, the estimates are larger than the regional average under both detrending methodologies. The empirical findings also show that Okun's relationship undergoes a structural change in 1981. After this break, unemployment becomes less responsive to output changes in all regional areas.

Suggested Citation

  • Nicholas Apergis & Anthony Rezitis, 2003. "An examination of Okun's law: evidence from regional areas in Greece," Applied Economics, Taylor & Francis Journals, vol. 35(10), pages 1147-1151.
    • Handle: RePEc:taf:applec:v:35:y:2003:i:10:p:1147-1151
    DOI: 10.1080/0003684032000066787
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    References listed on IDEAS

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    1. Marianne Baxter & Robert G. King, 1999. "Measuring Business Cycles: Approximate Band-Pass Filters For Economic Time Series," The Review of Economics and Statistics, MIT Press, vol. 81(4), pages 575-593, November.
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