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Legea lui Okun pentru România în perioada 1992-2004
[Okun's Law for Romania during 1992-2004]


  • TURTUREAN, Ciprian Ionel


In this article the author examines, based on the inflation rate and unemployment rate registered in Romania during 1993-2004, how to show Okun's Law. Results consist of two distinct models explaining the dependency between the GDP’s growth rate of and the unemployment rate’s growth and vice versa. This shows that in the case of Romania we can not be talking about reciprocal and unique two-way relationship approach using the same model, the direct and mutual dependencies between growth of unemployment rate and the growth rate of GDP’s as shown in the original formulation of Okun's Law.

Suggested Citation

  • TURTUREAN, Ciprian Ionel, 2007. "Legea lui Okun pentru România în perioada 1992-2004 [Okun's Law for Romania during 1992-2004]," MPRA Paper 10638, University Library of Munich, Germany.
  • Handle: RePEc:pra:mprapa:10638

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    References listed on IDEAS

    1. David E. Altig & Terry J. Fitzgerald & Peter Rupert, 1997. "Okun's law revisited: should we worry about low unemployment?," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
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    More about this item


    Okun's Law; GDP’s growth rate; unemployment rate’s growth; econometric modeling; reciprocal and exclusive reciprocal two-way relationship;

    JEL classification:

    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • C01 - Mathematical and Quantitative Methods - - General - - - Econometrics


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