The Relationship between Real Output (Real GDP) and Unemployment Rate: An Analysis of Okun's Law for Eurozone

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dc.authoridaltunoz, utku/0000-0002-0232-3108
dc.contributor.authorAltunoz, Utku
dc.date.accessioned2025-03-23T19:27:43Z
dc.date.available2025-03-23T19:27:43Z
dc.date.issued2019
dc.departmentSinop Üniversitesi
dc.description.abstractIn this study, the relationship between economic growth and unemployment in the euro area (eurozone) is investigated in the light of Okun's Law by using annual panel data set covering the period 2000-2012. Besides panel error correction and panel integration methods are used to test the link between unemployment and growth rate, unemployment hysteresis was examined by using several non- stationary panel unit root techniques for in all countries included to the study. Findings of this study propose that the Okun's Law is valid. However, the cointegration coefficient is lower than the Okun's coefficient calculated for the United States and other studies which was done for developed countries. The US is included in the analysis as it has the strongest economy in the world. In addition, since growth and unemployment are more volatile in developing countries, they are included in the analysis in order to compare with developed countries.
dc.identifier.doi10.17233/sosyoekonomi.2019.02.12
dc.identifier.endpage210
dc.identifier.issn1305-5577
dc.identifier.issue40
dc.identifier.scopusqualityN/A
dc.identifier.startpage197
dc.identifier.urihttps://doi.org/10.17233/sosyoekonomi.2019.02.12
dc.identifier.urihttps://hdl.handle.net/11486/4976
dc.identifier.volume27
dc.identifier.wosWOS:000476647600012
dc.identifier.wosqualityN/A
dc.indekslendigikaynakWeb of Science
dc.institutionauthorAltunoz, Utku
dc.language.isoen
dc.publisherSosyoekonomi Soc
dc.relation.ispartofSosyoekonomi
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_WOS_20250323
dc.subjectOkun's Law
dc.subjectUnemployment
dc.subjectEconomic Growth
dc.subjectPanel Cointegration
dc.subjectEurozone
dc.titleThe Relationship between Real Output (Real GDP) and Unemployment Rate: An Analysis of Okun's Law for Eurozone
dc.typeArticle

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