Foroni, Claudia; Furlanetto, Francesco - 2022
Despite its stability over time, as for any statistical relationship, Okun's law is subject to deviations that can be … using a SVAR model by inspecting how unemployment responds to the state of the economy. We show that deviations from Okun …'s law are a natural and expected outcome once one takes a multi-shock perspective, as long as shocks to automation, labor …