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Economic Forecasters and Okun's Law
Economic Forecasters and Okun's LawOkun’s Law is an empirical relationship between unemployment rates and real growth rates discussed in most macroeconomic textbooks, with a onepercentage-point increase in unemployment associated with about a 2-percentage-point reduction in output growth. We examine whether the Okun relationship is also evident in the predictions professional economists
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2008
Okun's law describes the empirical relationship between changes in unemployment and output at the macroeconomic level and has been regarded since its discovery by Arthur Okun (1962) as a building block of traditional macroeconomic models. This article discusses the interpretation of this relationship and summarizes recent developments in the ...
Crespo Cuaresma, Jesus +2 more
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Okun's law describes the empirical relationship between changes in unemployment and output at the macroeconomic level and has been regarded since its discovery by Arthur Okun (1962) as a building block of traditional macroeconomic models. This article discusses the interpretation of this relationship and summarizes recent developments in the ...
Crespo Cuaresma, Jesus +2 more
+6 more sources
Macroeconomic shocks and Okun’s Law
Economics Letters, 2021zbMATH Open Web Interface contents unavailable due to conflicting licenses.
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Canadian Journal of Economics/Revue canadienne d'économique, 2004 Abstract. In this paper we support the proposition that the output‐unemployment relationship as represented by Okun's law is asymmetric. Okun's coefficients are defined based on a dynamic model that allows for asymmetry in the relationship between cyclical output and unemployment.
Silvapulle, Mervyn. +2 more
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Oxford Bulletin of Economics and Statistics, 2003
AbstractIn the light of modern theoretical studies, the negative relationship between output and unemployment may take a nonlinear form, in the sense that changes in output can cause asymmetric changes in the unemployment rate. A regime‐dependent specification of Okun's law, where the inverse relationship between cyclical unemployment and cyclical GDP ...
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AbstractIn the light of modern theoretical studies, the negative relationship between output and unemployment may take a nonlinear form, in the sense that changes in output can cause asymmetric changes in the unemployment rate. A regime‐dependent specification of Okun's law, where the inverse relationship between cyclical unemployment and cyclical GDP ...
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Applied Economics Letters, 2019
This article contributes to the literature of Okun’s law by addressing an under-noticed but important problem, i.e. endogeneity.
Huang, G. +3 more
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This article contributes to the literature of Okun’s law by addressing an under-noticed but important problem, i.e. endogeneity.
Huang, G. +3 more
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2019
Das Okunsche Gesetz ist ein negatives Verhältnis zwischen Arbeitslosigkeit und Wirtschaftswachstum. Diese Arbeit beschäftigt sich mit der ökonometrischen Analyse des Okunsches Gesetzes für fünf EU-Kandidatenländer und die Ukraine. Die Studie basiert auf einem neuen jährlichen Datensatz von 1999 bis 2018.
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Das Okunsche Gesetz ist ein negatives Verhältnis zwischen Arbeitslosigkeit und Wirtschaftswachstum. Diese Arbeit beschäftigt sich mit der ökonometrischen Analyse des Okunsches Gesetzes für fünf EU-Kandidatenländer und die Ukraine. Die Studie basiert auf einem neuen jährlichen Datensatz von 1999 bis 2018.
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Weltwirtschaftliches Archiv, 1986
Eine uberprufung von Okuns Gesetz. - Okuns Gesetz konzentriert sich auf die keynesianische ErklArung der Arbeitslosigkeit. Ein erheblicher Mangel ist, da\ es die klassischen Ursachen der Arbeitslosigkeit in keiner Weise ausdrucklich behandelt. Daher wird in diesem Aufsatz eine ErgAnzung zu Okuns Gesetz vorgeschlagen, die diese Elemente enthAlt ...
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Eine uberprufung von Okuns Gesetz. - Okuns Gesetz konzentriert sich auf die keynesianische ErklArung der Arbeitslosigkeit. Ein erheblicher Mangel ist, da\ es die klassischen Ursachen der Arbeitslosigkeit in keiner Weise ausdrucklich behandelt. Daher wird in diesem Aufsatz eine ErgAnzung zu Okuns Gesetz vorgeschlagen, die diese Elemente enthAlt ...
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Economic Record, 2015
This paper examines the dynamic behaviour of the Okun coefficient using quarterly data (1980Q3–2014Q1). It is found that a rise in labour productivity and a fall in output can increase unemployment. A 1 per cent reduction in the unemployment rate requires only a 2.4 per cent increase in real output growth above the average growth rate, but during ...
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This paper examines the dynamic behaviour of the Okun coefficient using quarterly data (1980Q3–2014Q1). It is found that a rise in labour productivity and a fall in output can increase unemployment. A 1 per cent reduction in the unemployment rate requires only a 2.4 per cent increase in real output growth above the average growth rate, but during ...
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