He Relationship between Real Output (Real GDP) and Unemployment Rate: An Analysis of Okun’s Law for Eurozone
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Tarih
2019
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Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
In 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 period2000-2012. Besides panel error correction and panel integration methods are used to test the linkbetween unemployment and growth rate, unemployment hysteresis was examined by using severalnon-stationary panel unit root techniques for in all countries included to the study. Findings of thisstudy propose that the Okun’s Law is valid. However, the cointegration coefficient is lower than theOkun’s coefficient calculated for the United States and other studies which was done for developedcountries. 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 theanalysis in order to compare with developed countries.
Açıklama
Anahtar Kelimeler
İktisat
Kaynak
Sosyoekonomi
WoS Q Değeri
Scopus Q Değeri
Cilt
27
Sayı
40
