Okun's Law and Jobless Growth
This policy note tries to understand the slow job recovery in the United States as the economy exists a recession. We show that the time-varying Okun coefficient has declined since the early 1990s, thus being consistent with the observation of jobless growth. This finding contrasts with other countries that show an increase in the time-varying Okun coefficient.
|Date of creation:||Mar 2006|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Greiner, Alfred & Rubart, Jens & Semmler, Willi, 2004. "Economic growth, skill-biased technical change and wage inequality: A model and estimations for the US and Europe," Journal of Macroeconomics, Elsevier, vol. 26(4), pages 597-621, December.
- Stacey L. Schreft & Aarti Singh, 2003. "A closer look at jobless recoveries," Economic Review, Federal Reserve Bank of Kansas City, issue Q II, pages 45-73.
- Philippe Aghion & Peter Howitt, 1994.
"Growth and Unemployment,"
Review of Economic Studies,
Oxford University Press, vol. 61(3), pages 477-494.
- Aghion, Philippe & Howitt, Peter, 1991. "Growth and Unemployment," CEPR Discussion Papers 577, C.E.P.R. Discussion Papers.
- Lee, Jim, 2000. "The Robustness of Okun's Law: Evidence from OECD Countries," Journal of Macroeconomics, Elsevier, vol. 22(2), pages 331-356, April.
- Richard B. Freeman & William M. Rodgers, 2005. "The weak jobs recovery: whatever happened to "the great American jobs machine"?," Economic Policy Review, Federal Reserve Bank of New York, issue Aug, pages 3-18.
- Gong, Gang & Semmler, Willi, 2006. "Stochastic Dynamic Macroeconomics: Theory and Empirical Evidence," OUP Catalogue, Oxford University Press, number 9780195301625. Full references (including those not matched with items on IDEAS)