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This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty … the unemployment rate-varies substantially across countries. This variation is partly explained by idiosyncratic features …
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account deficit, exchange rate, unemployment, inflation, and mortgage rates. Second, we employ probit and logit regression …
Persistent link: https://www.econbiz.de/10012022350
constant unemployment rate, through the notion of Harrod's natural growth rate and Okun's Law. Kalman filter estimation allows … employment. First, estimates of Okun's Law indicate that the response of Philippine unemployment and visible underemployment to …
Persistent link: https://www.econbiz.de/10011817064
This paper examines the role of fiscal policies in the dynamics of the labor market. Through the lenses of Okun's Law, we assess how fiscal policy instruments as well as fiscal consolidation and expansion episodes affect labor market outcomes. Using a panel of 34 OECD countries over the period...
Persistent link: https://www.econbiz.de/10011308642
The unemployment rates, especially youth unemployment rates, increased in various countries of Europe over the last … years. This paper examines gender-specific youth unemployment developments in Germany and Poland with Okun's law to test the …
Persistent link: https://www.econbiz.de/10011755720
law with a focus on the dynamic part of the relationship. We find that the negative relationship between unemployment and … misspecification of the short run unemployment-output relationship. A mixed lag structure indirectly controls for missing explanatory …
Persistent link: https://www.econbiz.de/10012040048
This paper provides new estimates of Okun’s unemployment-output relationship in euro area countries between 1979 and … characterise the literature and that the responsiveness of output to unemployment is driven by idiosyncratic factors in both euro …
Persistent link: https://www.econbiz.de/10015052585
We estimate Okun's law, the negative relationship between output and the unemployment rate, at the sector level for the … coefficients are proportional to the aggregate in all four countries. We also show that the standard deviation of unemployment is …
Persistent link: https://www.econbiz.de/10012841145