A Cross-Country Study on Okun's Law
Leopold Soegner () and
Alfred Stiassny ()
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Leopold Soegner: Department of Economics, Vienna University of Economics & B.A.
Alfred Stiassny: Department of Economics, Vienna University of Economics & B.A.
Working Papers from Vienna University of Economics and Business Research Group: Growth and Employment in Europe: Sustainability and Competitiveness
Okun's Law postulates an inverse relationship between movements of the unemployment rate and the real gross domestic product (GDP). In this article we investigate Okun's law for 15 OECD countries and check for its the structural stability. By using data on employment and the labor force we infer whether structural instability is caused either from the demand side or the supply side.
Keywords: Okun's Law; Time Variing Parameter Models (search for similar items in EconPapers)
JEL-codes: C51 (search for similar items in EconPapers)
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