Anderton, Robert; Aranki, Ted; Bonthuis, Boele; Jarvis, … - European Central Bank - 2014
This paper examines the usefulness of the Okun relationship as a “rule of thumb” for predicting changes in unemployment, as a result of changes in output. It argues that a disaggregated version of the Okun relationship – making use of the differential reaction of unemployment to changes in...