A Cross-Country Study on Okun's Law
AbstractOkun's Law postulates an inverse relationship between movements of the unemployment rate and the real gross domestic product (GDP). In this article we investigate Okun's law for 15 OECD countries and check for its the structural stability. By using data on employment and the labor force we infer whether structural instability is caused either from the demand side or the supply side.
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Bibliographic InfoPaper provided by Vienna University of Economics Research Group: Growth and Employment in Europe: Sustainability and Competitiveness in its series Working Papers with number geewp13.
Date of creation: Sep 2000
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Okun's Law; Time Variing Parameter Models;
Find related papers by JEL classification:
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
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