La ley de Okun: una relectura para México, 1970-2004

Eduardo Loría and Manuel G. Ramos.
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Eduardo Loría: Universidad Nacional Autónoma de México
Manuel G. Ramos.: Universidad Nacional Autónoma de México

Estudios Económicos, 2007, vol. 22, issue 1, 19-55

Abstract: We estimated the dynamic relationship between the unemployment rate and output for the Mexican Economy for annual data (1970-2004). We estimated three structural time series models by using the Kalman filter. We found a coefficient in the range 2.08-2.5. In order to avoid spuriousness, we proved for cointegration through the Johansen Procedure; finally, through the estimation of VAR's we also proved that Granger causality runs in both senses in the three main Okun equations.

Keywords: Okun's law; structural time series models; Kalman filter cuasality (search for similar items in EconPapers)
JEL-codes: C13 C22 E24 (search for similar items in EconPapers)
Date: 2007
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:emx:esteco:v:22:y:2007:i:1:p:19-55

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