scholarly journals Beyond Okun's Law: Output Growth and Labor Market Flows

2019 ◽  
Author(s):  
Guay C. Lim ◽  
Robert John Dixon ◽  
Jan C. van Ours
Keyword(s):  
Labor Market ◽  
Output Growth ◽  
Okun’S Law ◽  
Okun's Law ◽  
Labor Market Flows

scholarly journals Beyond Okun's Law: Output Growth and Labor Market Flows

2018 ◽  
Author(s):  
Guay C. Lim ◽  
Robert John Dixon ◽  
Jan van Ours
Keyword(s):  
Labor Market ◽  
Output Growth ◽  
Okun’S Law ◽  
Okun's Law ◽  
Labor Market Flows

Revisiting Okun’s Law in European Union countries

2016 ◽  
Vol 43 (2) ◽  
pp. 275-287 ◽  
Author(s):  
Athina Economou ◽  
Iacovos N. Psarianos
Keyword(s):  
European Union ◽  
Labor Market ◽  
Output Growth ◽  
Okun’S Law ◽  
Content Type ◽  
Unemployment Rates ◽  
Okun's Law ◽  
Market Protection ◽  
European Union Countries ◽  
Decomposition Models

Purpose – The purpose of this paper is to examine Okun’s Law in European countries by distinguishing between the transitory and the permanent effects of output changes upon unemployment and by examining the effect of labor market protection policies upon Okun’s coefficients. Design/methodology/approach – Quarterly data for 13 European Union countries, from the second quarter of 1993 until the first quarter of 2014, are used. Panel data techniques and Mundlak decomposition models are estimated. Findings – Okun’s Law is robust to alternative specifications. The effect of output changes to unemployment rates is weaker for countries with increased labor market protection expenditures and it is more persistent for countries with low labor market protection. Originality/value – The paper provides evidence that the permanent effect of output changes upon unemployment rates is quantitatively larger than the transitory impact. In addition, it provides evidence that increased labor market protection mitigates the adverse effects of a decrease in output growth rate upon unemployment.

A generalized Okun's Law: Uncovering the myth of China's labor market resilience

2018 ◽  
Vol 22 (3) ◽  
pp. 1195-1216
Author(s):  
Xiaoguang Liu ◽  
Raphael Lam ◽  
Alfred Schipke ◽  
Guangjun Shen
Keyword(s):  
Labor Market ◽  
Okun’S Law ◽  
Okun's Law

scholarly journals Okun’s Law in Austria

2017 ◽  
Vol 8 (2) ◽  
pp. 97-110 ◽  
Author(s):  
Michael Christl ◽  
Monika Köppl-Turyna ◽  
Dénes Kucsera
Keyword(s):  
Growth Rate ◽  
Labor Market ◽  
Labor Force ◽  
Unemployment Rate ◽  
Gdp Growth ◽  
Okun’S Law ◽  
Okun's Law

AbstractWe estimate the classic and the dynamic variant of Okun’s law for the Austrian labor market. We find that, for recent periods, the growth rate necessary to stabilize the unemployment rate equals 2.8 percent. Moreover, we find that the rate has been growing in recent quarters due to the increasing labor force size and the effects of the crisis. The latest prediction of the employment threshold lies above 3 percent, much above forecasted GDP growth up to 2017.

scholarly journals UNEMPLOYMENT AND ECONOMIC GROWTH IN NIGERIA: DOES OKUN’S LAW MATTERS?

10.23856/3203 ◽  
2019 ◽  
Vol 32 (1) ◽  
pp. 26-37
Author(s):  
Oluwaseyi Adedayo Adelowokan ◽  
Adeteji Olusegun Оkutimiren
Keyword(s):  
Economic Growth ◽  
Population Growth ◽  
Unemployment Rate ◽  
Government Expenditure ◽  
Output Growth ◽  
Sustainable Growth ◽  
Okun’S Law ◽  
Okun's Law ◽  
The Government ◽  
The Impact

The situation in Nigeria is rapid population growth with high level of unemployment rate. The theoretical proposition of the Okun’s law suggests an indirect relationship existing between unemployment and output growth. This study tests the validity of Okun’s law by examining the impact of youth employment generation on sustainable growth in the Nigerian economy. We modeled real gross domestic product against unemployment rate, population growth, labour and government expenditure between 1986 and 2017. The empirical findings show that there is short- and long- run relationship existing between unemployment rate, population growth and output growth in Nigeria. Hence, study recommends that the activities by the government in promoting economic growth in the country should be geared towards promoting employment for the people in other sector.

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