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Particularities of the Correlation Between the Unemployment Rate and the GDP in the Dynamics of the Romanian Economy

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  • Dorel Savulea

Abstract

This paper tries to outline some aspects of the interdependency between the unemployment rate and the GDP rhythm under the specific circumstances of the Romanian economy in the pre-accession period to the EU. The paper presents two methodological versions used in the study of this correlation, namely: the version of the level of the gross domestic product (LGDP) and the version of the growth rate (GR). The implementation of this methodology shows that the reversed connection between the two macroeconomic variables cannot be applied for Romania in the analyzed period. These situations are also proved and the end of the paper presents the way of using the results obtained for the preparation of predictions.

Suggested Citation

  • Dorel Savulea, 2008. "Particularities of the Correlation Between the Unemployment Rate and the GDP in the Dynamics of the Romanian Economy," European Research Studies Journal, European Research Studies Journal, vol. 0(4), pages 111-111.
  • Handle: RePEc:ers:journl:v:xi:y:2008:i:4:p:111
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    Keywords

    unemployment rate; gross domestic product; Okun law;

    JEL classification:

    • A13 - General Economics and Teaching - - General Economics - - - Relation of Economics to Social Values
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • O11 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Macroeconomic Analyses of Economic Development

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