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 …

unemployment that is in line with this empirical regularity and the findings for the other emerging markets and regional peers. We … European debt crisis. When investigating whether various expenditure components of GDP may cause different unemployment … improve forecasting of unemployment. …

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 …