Does Okun's law suffer from COVID-19? Evidence from Europe and the US - A research note

Jan Russnak, Georg Stadtmann and Lilli Zimmermann

No 428, Discussion Papers from European University Viadrina Frankfurt (Oder), Department of Business Administration and Economics

Abstract: We analyse the effect of COVID-19 on the Okun's law relationship for several EU countries and the US. Results are based on regressions and a systematic DF-Beta analysis. Our results indicate that the year 2020 is an outlier in the Okun relationship. However, the direction of change is different in the European countries compared to the US.

Keywords: Okun's law; Covid-19; Outliers (search for similar items in EconPapers)
JEL-codes: E30 J60 (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:euvwdp:428

DOI: 10.11584/opus4-1294

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