Unemployment and growth: some empirical evidence from structural time series models

Vito Muscatelli and Patrizio Tirelli

Applied Economics, 2001, vol. 33, issue 8, 1083-1088

Abstract: This study investigates the empirical relationship between unemployment and growth in a number of OECD economies. A structural time series model is used for labour productivity growth to demonstrate that, in most economies, there seems to be a negative correlation between unemployment and labour productivity growth. The results provide little support for the theory that recessions may stimulate productivity growth. The use of a structural time series approach allows an attempt to model the underlying dynamics of productivity growth jointly with the effect of unemployment.

Date: 2001
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DOI: 10.1080/00036840010003276

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