Okun's Law and Jobless Growth
AbstractThis policy note tries to understand the slow job recovery in the United States as the economy exists a recession. We show that the time-varying Okun coefficient has declined since the early 1990s, thus being consistent with the observation of jobless growth. This finding contrasts with other countries that show an increase in the time-varying Okun coefficient.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 54881.
Date of creation: Mar 2006
Date of revision:
Unemployment; growth; jobless growth;
Find related papers by JEL classification:
- E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
- E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution
- E3 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles
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