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Disaggregating Okun's law: decomposing the impact of the expenditure components of GDP on euro area unemployment

Author

Listed:
  • Anderton, Robert
  • Aranki, Ted
  • Bonthuis, Boele
  • Jarvis, Valerie

Abstract

This paper examines the usefulness of the Okun relationship as a JEL Classification: E2, E24, C23

Suggested Citation

  • Anderton, Robert & Aranki, Ted & Bonthuis, Boele & Jarvis, Valerie, 2014. "Disaggregating Okun's law: decomposing the impact of the expenditure components of GDP on euro area unemployment," Working Paper Series 1747, European Central Bank.
  • Handle: RePEc:ecb:ecbwps:20141747
    Note: 339014
    as

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    File URL: https://www.ecb.europa.eu//pub/pdf/scpwps/ecbwp1747.en.pdf
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    References listed on IDEAS

    as
    1. Michael T. Owyang & Tatevik Sekhposyan, 2012. "Okun’s law over the business cycle: was the great recession all that different?," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 399-418.
    2. Brent Meyer & Murat Tasci, 2012. "An unstable Okun’s Law, not the best rule of thumb," Economic Commentary, Federal Reserve Bank of Cleveland, issue June.
    3. Millard, Stephen & Scott, Andrew & Sensier, Marianne, 1997. "The Labour Market over the Business Cycle: Can Theory Fit the Facts?," Oxford Review of Economic Policy, Oxford University Press, vol. 13(3), pages 70-92, Autumn.
    4. repec:fip:fedcec:y:2012:i:jun7:n:2012-8 is not listed on IDEAS
    5. Anderton, Robert & Tewolde, Tadios, 2011. "The global financial crisis: trying to understand the global trade downturn and recovery," Working Paper Series 1370, European Central Bank.
    6. Laurence M. Ball & Daniel Leigh & Prakash Loungani, 2013. "Okun's Law: Fit at Fifty?," NBER Working Papers 18668, National Bureau of Economic Research, Inc.
    7. Moosa, Imad A., 1997. "A Cross-Country Comparison of Okun's Coefficient," Journal of Comparative Economics, Elsevier, vol. 24(3), pages 335-356, June.
    8. II & Edward S. Knotek, 2007. "How useful is Okun's law?," Economic Review, Federal Reserve Bank of Kansas City, vol. 92(Q IV), pages 73-103.
    Full references (including those not matched with items on IDEAS)

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    Blog mentions

    As found by EconAcademics.org, the blog aggregator for Economics research:
    1. Le chômage en zone euro, une histoire de ménages
      by ? in D'un champ l'autre on 2015-01-01 18:27:00

    Citations

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    Cited by:

    1. Özge BARIŞ-TÜZEMEN & Samet TÜZEMEN, 2019. "The Relationship between Unemployment and Growth: Evidence from Turkish Manufacturing Industry," Sosyoekonomi Journal, Sosyoekonomi Society, issue 27(39).
    2. Alexander Herzog-Stein & Camille Logeay, 2019. "Short-Term macroeconomic evaluation of the German minimum wage with a VAR/VECM," IMK Working Paper 197-2019, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
    3. Lafourcade, Pierre & Gerali, Andrea & Brůha, Jan & Bursian, Dirk & Buss, Ginters & Corbo, Vesna & Haavio, Markus & Håkanson, Christina & Hlédik, Tibor & Kátay, Gábor & Kulikov, Dmitry & Lozej, Matija , 2016. "Labour market modelling in the light of the financial crisis," Occasional Paper Series 175, European Central Bank.
    4. Zakaria El Faiz & Said Tounsi, 2019. "Les Fluctuations Cycliques De La Production Et Du Chômage Au Maroc : Une Approche Sectorielle De La Loi D’Okun," Working Papers 1336, Economic Research Forum, revised 21 Aug 2019.
    5. Boele Bonthuis & Valerie Jarvis & Juuso Vanhala, 2016. "Shifts in euro area Beveridge curves and their determinants," IZA Journal of Labor Policy, Springer;Forschungsinstitut zur Zukunft der Arbeit GmbH (IZA), vol. 5(1), pages 1-17, December.
    6. repec:ecb:ecbops:2008159 is not listed on IDEAS
    7. Irina SyssoyevaMasson & João Sousa Andrade, 2017. "Are PIIGS so Different? An Empirical Analysis of Demand and Supply Shocks," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 64(2), pages 189-222, March.
    8. Anderton, Robert & Maria, José R. & Karšay, Alexander & Szörfi, Béla & Périnet, Mathilde & Petroulas, Pavlos & Beck Nelleman, Peter & Conefrey, Thomas & Veiga, Cindy & Zizza, Roberta & Verdugo, Gregor, 2015. "Comparisons and contrasts of the impact of the crisis on euro area labour markets," Occasional Paper Series 159, European Central Bank.
    9. Arpaia, Alfonso & Kiss, Aron & Turrini, Alessandro, 2014. "Is Unemployment Structural or Cyclical? Main Features of Job Matching in the EU after the Crisis," IZA Policy Papers 91, Institute of Labor Economics (IZA).

    More about this item

    Keywords

    expenditure components of GDP; Okun relationship; panel econometrics; unemployment;

    JEL classification:

    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

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