Age Effects in the Okun's Law within the Eurozone
We estimate Okun coefficients for five different age cohorts for several Eurozone countries. We find a stable pattern for all countries: The relationship between business-cycle fluctuations and the unemployment rate is the strongest for the youngest cohort and gets smaller for the elderly cohorts.
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- Christian Pierdzioch & Jan-Christoph Rulke & Georg Stadtmann, 2011. "Do professional economists' forecasts reflect Okun's law? Some evidence for the G7 countries," Applied Economics, Taylor & Francis Journals, vol. 43(11), pages 1365-1373.
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