scholarly journals Test of Okun’s Law in Some Asian Countries Co-Integration Approach

2010 ◽  
Author(s):  
Irfan Lal ◽  
Sulaiman D. Muhammad ◽  
M. Anwar Jalil ◽  
Adnan Hussain
Keyword(s):  
Asian Countries ◽  
Okun’S Law ◽  
Okun's Law ◽  
Integration Approach

The paper-bill spread and Blanchard's version of Okun's law

1997 ◽  
Vol 4 (7) ◽  
pp. 437-440 ◽  
Author(s):  
Christian E. Weber
Keyword(s):  
Okun’S Law ◽  
Okun's Law

Unemployment and output dynamics in CIS countries: Okun’s law revisited

2016 ◽  
Vol 49 (34) ◽  
pp. 3453-3479 ◽  
Author(s):  
Marat Ibragimov ◽  
Rustam Ibragimov
Keyword(s):  
Okun’S Law ◽  
Okun's Law ◽  
Cis Countries ◽  
In Cis

scholarly journals Okun’s Law: A Meaningful Guide for Monetary Policy?

2012 ◽  
Vol 2012 (15) ◽  
Author(s):  
Yi Wen ◽  
Mingyu Chen
Keyword(s):  
Monetary Policy ◽  
Okun’S Law ◽  
Okun's Law

scholarly journals Economic Growth and Unemployment Issues in Ten (10) Selected West African Countries: A Panel Data Analysis

2020 ◽  
pp. 1-12
Author(s):  
Joseph Eshun
Keyword(s):  
Economic Growth ◽  
West Africa ◽  
Panel Data Analysis ◽  
Fixed Effect ◽  
Okun’S Law ◽  
African Countries ◽  
Okun's Law ◽  
Unit Increase ◽  
Effect Regression ◽  
Variable Bias

The economic growth of nations continue to be one of the main issues that economists have been interested in analyzing. In effect, several theories have emerged to explain the growth of nations including the Okun’s law which tests the relationship between economic growth and unemployment. Using the World Bank Dataset, the study tested the validity of Okun's Law in West Africa by employing fixed effect regressions to control for inconsistencies of the OLS estimates due to omitted variable bias. The random and time-fixed effect regressions confirm the validity of the Okun's Law in West Africa. The time-fixed effect regression shows that, economic growth will decline by 0.311 annually for every unit increase in the rate of unemployment. Time variant effects such as changes in policy provides a stronger case for the effect of unemployment rate volatility on the growth of these economies. It is therefore recommended that, various stakeholders adopt efficient fiscal and monetary policies aimed at lowering the rate of unemployment thereby expanding economic growth. One of such policies could be the reduction of the high corporate tax rates in the region that is bedeviling African countries by preventing industries and businesses from being built.

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