Regional growth and unemployment in the medium run: asymmetric cointegrated Okun's Law for UK regions

Silvia Palombi, Roger Perman and Christophe Tav鲡
Authors registered in the RePEc Author Service: Christophe Tavera ()

Applied Economics, 2015, vol. 47, issue 57, 6228-6238

Abstract: This article tests for the presence of a medium-run asymmetric Okun's Law relationship between regional output and regional unemployment rate in UK regions. The test is performed with a panel data version of the hidden cointegration technique suggested by Granger and Yoon. A novelty of the article is to combine the method of hidden cointegration with a panel data method of removing cross-sectional dependence. The medium-run Okun relationship for regions in the UK appears to confirm results found elsewhere in the literature on countries as a whole, although the coefficients tend to be smaller.

Date: 2015
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DOI: 10.1080/00036846.2015.1068922

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