Okun's Law Fit at 50?
This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty advanced economies since 1980. We find that Okun's Law isa strong and stable relationship in most countries, one that did not change substantiallyduring the Great Recessi...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2013
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| Schriftenreihe: | IMF Working Papers
Working Paper No. 13/10 |
| Online-Zugang: | DE-20 DE-824 DE-70 DE-155 DE-29 DE-22 DE-473 DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-739 DE-355 DE-Aug4 DE-1049 DE-12 DE-91 URL des Erstveröffentlichers |
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| 520 | 3 | |a This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty advanced economies since 1980. We find that Okun's Law isa strong and stable relationship in most countries, one that did not change substantiallyduring the Great Recession. Accounts of breakdowns in the Law, such as the emergence of"jobless recoveries," are flawed. We also find that the coefficient in the relationship-the effect of a one percent change in output on the unemployment rate-varies substantially across countries. This variation is partly explained by idiosyncratic features of national labormarkets, but it is not related to differences in employment protection legislation | |
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| publisher | International Monetary Fund |
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| spellingShingle | Ball, Laurence M. Okun's Law Fit at 50? |
| title | Okun's Law Fit at 50? |
| title_auth | Okun's Law Fit at 50? |
| title_exact_search | Okun's Law Fit at 50? |
| title_full | Okun's Law Fit at 50? Ball, Laurence M |
| title_fullStr | Okun's Law Fit at 50? Ball, Laurence M |
| title_full_unstemmed | Okun's Law Fit at 50? Ball, Laurence M |
| title_short | Okun's Law |
| title_sort | okun s law fit at 50 |
| title_sub | Fit at 50? |
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