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Análisis Dinámico de la Relación entre Ciclo Económico y Ciclo del Desempleo en Andalucía en Comparación con el Resto de España

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Abstract

We estimate the Okun Law for Andalusia and Spain using quarterly data for the period 1984-2000. We take a VAR approach that allows us to unveil the different dynamic behaviour of the relationship between the output gap and the unemployment gap in the two regions, as well as the asymmetric nature of it. Our findings suggest that the lower responsiveness of the unemployment gap to the output gap is due to two main factors: i. the flows from the labour force to the outside of the labour force are larger in Andalusia; ii. The higher share of the farm unemployment in Andalusia.

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Paper provided by Centro de Estudios Andaluces in its series Economic Working Papers at Centro de Estudios Andaluces with number E2002/07.

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Length: 31 pages
Date of creation: 2002
Date of revision:
Handle: RePEc:cea:doctra:e2002_07

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Keywords: Okun Law; business cycle; unemployment; non-linearity; regional economics;

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  1. Harvey, A C & Jaeger, A, 1993. "Detrending, Stylized Facts and the Business Cycle," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 8(3), pages 231-47, July-Sept.
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  3. Francisco Trujillo Aranda & María Dolores Benítez Márquez & Pilar López Delgado, 2000. "Trimestralización de los valores añadidos sectoriales mediante indicadores. Aplicación al caso de Andalucía," Revista de Estudios Regionales, Universidades Públicas de Andalucía, vol. 2, pages 59-97.
  4. Guy Debelle & Douglas Laxton, 1997. "Is the Phillips Curve Really a Curve? Some Evidence for Canada, the United Kingdom, and the United States," IMF Staff Papers, Palgrave Macmillan, vol. 44(2), pages 249-282, June.
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  7. Blanchard, Olivier Jean, 1991. "Wage Bargaining and Unemployment Persistence," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(3), pages 277-92, August.
  8. Nickell, Stephen J, 1987. "Why Is Wage Inflation in Britain So High?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 49(1), pages 103-28, February.
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  12. Paramsothy Silvapulle & Imad Moosa & Mervyn Silvapulle, 2004. "Asymmetry in Okun's law," Canadian Journal of Economics, Canadian Economics Association, vol. 37(2), pages 353-374, May.
  13. Richard Harris & Brian Silverstone, 2000. "Asymmetric Adjustment of Unemployment and Output in New Zealand: Rediscovering Okun's Law," Working Papers in Economics 00/02, University of Waikato, Department of Economics.
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Cited by:
  1. Javier J. Pérez & Jesús Rodríguez López & Teresa Leal, 2002. "Pautas cíclicas de la economía andaluza en el período 1984-2001: un análisis comparado," Economic Working Papers at Centro de Estudios Andaluces E2002/18, Centro de Estudios Andaluces.
  2. Diego Martínez López & Jesús Rodríguez López, 2006. "The role of new technologies in the economic growth of Andalucia," Economic Working Papers at Centro de Estudios Andaluces E2006/19, Centro de Estudios Andaluces.
  3. Ines Murillo & Fernando Núñez & Carlos Usabiaga, 2005. "Differentials and persistence in unemployment - an analysis of the Spanish regions with the highest unemployment rates," ERSA conference papers ersa05p278, European Regional Science Association.
  4. Antonio Morales & Pablo Brañas Garza, 2003. "Computational Errors in Guessing Games1," Economic Working Papers at Centro de Estudios Andaluces E2003/11, Centro de Estudios Andaluces.

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