A flexible nonlinear inference to Okun's relationship

Ho-Chuan Huang () and Shu-Chin Lin

Applied Economics Letters, 2006, vol. 13, issue 5, 325-331

Abstract: The study implements the flexible nonlinear inference approach of Hamilton (2001) to assess the validity of Okun's law. Using US quarterly data from 1948:1 to 2004:2, overwhelming evidence is found of nonlinearity between cyclical components of unemployment and output. However, the relationship is still negative and provides strong support of (nonlinear) Okun's law.

Date: 2006
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:13:y:2006:i:5:p:325-331

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DOI: 10.1080/13504850500398625

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