This paper studies the relationship between the change in the unemployment rate and output growth using an approach …

interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market … performance. Our analysis has two special features. First, apart from the two labour market states - employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in …

Our paper revisits Okun's relationship between observed unemployment rates and output gaps. We include in the … relationship the effect of labour market institutions as well as age and gender effects. Our empirical analysis is based on 20 OECD … unemployment rate) over time. The Okun coefficient is not only different for young, prime-age and older workers, it decreases with …