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Okun's Law and Jobless Growth

Tarron Khemraj, Jeff Madrick and Willi Semmler ()

MPRA Paper from University Library of Munich, Germany

Abstract: This policy note tries to understand the slow job recovery in the United States as the economy exists a recession. We show that the time-varying Okun coefficient has declined since the early 1990s, thus being consistent with the observation of jobless growth. This finding contrasts with other countries that show an increase in the time-varying Okun coefficient.

Keywords: Unemployment; growth; jobless growth (search for similar items in EconPapers)
JEL-codes: E10 E24 E3 (search for similar items in EconPapers)
Date: 2006-03
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