In the Context of Okun Law, the Relationship Between Real Output and Unemployment Rate in Oecd: a Panel Error Correction and Panel Ardl Approaches

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dc.contributor.authorAltunöz, Utku
dc.date.accessioned2025-03-23T19:16:53Z
dc.date.available2025-03-23T19:16:53Z
dc.date.issued2024
dc.departmentSinop Üniversitesi
dc.description.abstractIn this paper, the correlation between unemployment rate and real output for OECD countries was analyzed through the application of Okun’s Law and unemployment hysteresis 2007-2022. For this purpose, panel error correction, panel cointegration, ARDL Bounds Test and Granger causality techniques were preferred. In addition, unemployment hysteresis was examined with different panel unit root technique in OECD countries. The findings show that there is a long-term link among the variables, while supporting unemployment hysteresis in most OECD countries. Long-term findings show that Okun’s law is applicable. Causality analysis indicates that there is a one-way and negative relationship towards the unemployment rate. The estimation for the long-run coefficient shows that the increase in growth leads to a decrease in the unemployment rate. Short-term findings also support long-term outcomes. © 2024 Utku Altunöz. Published by Vilnius University Press.
dc.identifier.doi10.15388/Ekon.2024.103.1.1
dc.identifier.endpage24
dc.identifier.issn1392-1258
dc.identifier.issue1
dc.identifier.scopus2-s2.0-85190343955
dc.identifier.scopusqualityQ3
dc.identifier.startpage6
dc.identifier.urihttps://doi.org/10.15388/Ekon.2024.103.1.1
dc.identifier.urihttps://hdl.handle.net/11486/4208
dc.identifier.volume103
dc.indekslendigikaynakScopus
dc.institutionauthorAltunöz, Utku
dc.language.isoen
dc.publisherVilnius University Press
dc.relation.ispartofEkonomika
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_Scopus_20250323
dc.subjectOkun
dc.subjectoutput
dc.subjectunemployment
dc.titleIn the Context of Okun Law, the Relationship Between Real Output and Unemployment Rate in Oecd: a Panel Error Correction and Panel Ardl Approaches
dc.typeArticle

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