Okun's Law: fit at fifty?
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Washington, D.C.
International Monetary Fund
c2013
|
| Series: | IMF working paper
WP/13/10 |
| Subjects: | |
| Online Access: | Volltext |
| Item Description: | Title from title page (IMF Web site, viewed Jan. 22, 2013). - "Research Department.". - "January 2013." This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty advanced economies since 1980. We find that Okun's Law is a strong and stable relationship in most countries, one that did not change substantially during the Great Recession. Accounts of breakdowns in the Law, such as the emergence of "jobless recoveries," are flawed. We also find that the coefficient in the relationship--the effect of a one percent change in output on the unemployment rate--varies substantially across countries. This variation is partly explained by idiosyncratic features of national labor markets, but it is not related to differences in employment protection legislation Includes bibliographical references |
| Physical Description: | 1 Online-Ressource (40 p.) |
| ISBN: | 9781475537352 1475537352 |
Staff View
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| 500 | |a Title from title page (IMF Web site, viewed Jan. 22, 2013). - "Research Department.". - "January 2013." | ||
| 500 | |a This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty advanced economies since 1980. We find that Okun's Law is a strong and stable relationship in most countries, one that did not change substantially during the Great Recession. Accounts of breakdowns in the Law, such as the emergence of "jobless recoveries," are flawed. We also find that the coefficient in the relationship--the effect of a one percent change in output on the unemployment rate--varies substantially across countries. This variation is partly explained by idiosyncratic features of national labor markets, but it is not related to differences in employment protection legislation | ||
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| dewey-ones | 332 - Financial economics |
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| discipline | Wirtschaftswissenschaften |
| era | 1900 - 1999 fast Geschichte 1900-2000 |
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| geographic | USA |
| geographic_facet | USA |
| id | DE-604.BV042965326 |
| illustrated | Not Illustrated |
| indexdate | 2024-07-10T07:13:56Z |
| institution | BVB |
| isbn | 9781475537352 1475537352 |
| language | English |
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| physical | 1 Online-Ressource (40 p.) |
| psigel | ZDB-4-EBU FLA_PDA_EBU |
| publishDate | 2013 |
| publishDateSearch | 2013 |
| publishDateSort | 2013 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF working paper |
| spelling | Ball, Laurence M. Verfasser aut Okun's Law fit at fifty? Laurence M. Ball, Daniel Leigh, Prakash Loungani Washington, D.C. International Monetary Fund c2013 1 Online-Ressource (40 p.) txt rdacontent c rdamedia cr rdacarrier IMF working paper WP/13/10 Title from title page (IMF Web site, viewed Jan. 22, 2013). - "Research Department.". - "January 2013." This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty advanced economies since 1980. We find that Okun's Law is a strong and stable relationship in most countries, one that did not change substantially during the Great Recession. Accounts of breakdowns in the Law, such as the emergence of "jobless recoveries," are flawed. We also find that the coefficient in the relationship--the effect of a one percent change in output on the unemployment rate--varies substantially across countries. This variation is partly explained by idiosyncratic features of national labor markets, but it is not related to differences in employment protection legislation Includes bibliographical references 1900 - 1999 fast Geschichte 1900-2000 BUSINESS & ECONOMICS / Banks & Banking bisacsh Macroeconomics / Econometric models fast Recessions / Econometric models fast Unemployment / Econometric models fast Geschichte Wirtschaft Ökonometrisches Modell Unemployment United States History 20th century Econometric models Unemployment History 20th century Econometric models Macroeconomics Econometric models Recessions Econometric models USA Leigh, Daniel Sonstige oth Loungani, Prakash Sonstige oth International Monetary Fund Research Department Sonstige oth http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=548016 Aggregator Volltext |
| spellingShingle | Ball, Laurence M. Okun's Law fit at fifty? BUSINESS & ECONOMICS / Banks & Banking bisacsh Macroeconomics / Econometric models fast Recessions / Econometric models fast Unemployment / Econometric models fast Geschichte Wirtschaft Ökonometrisches Modell Unemployment United States History 20th century Econometric models Unemployment History 20th century Econometric models Macroeconomics Econometric models Recessions Econometric models |
| title | Okun's Law fit at fifty? |
| title_auth | Okun's Law fit at fifty? |
| title_exact_search | Okun's Law fit at fifty? |
| title_full | Okun's Law fit at fifty? Laurence M. Ball, Daniel Leigh, Prakash Loungani |
| title_fullStr | Okun's Law fit at fifty? Laurence M. Ball, Daniel Leigh, Prakash Loungani |
| title_full_unstemmed | Okun's Law fit at fifty? Laurence M. Ball, Daniel Leigh, Prakash Loungani |
| title_short | Okun's Law |
| title_sort | okun s law fit at fifty |
| title_sub | fit at fifty? |
| topic | BUSINESS & ECONOMICS / Banks & Banking bisacsh Macroeconomics / Econometric models fast Recessions / Econometric models fast Unemployment / Econometric models fast Geschichte Wirtschaft Ökonometrisches Modell Unemployment United States History 20th century Econometric models Unemployment History 20th century Econometric models Macroeconomics Econometric models Recessions Econometric models |
| topic_facet | BUSINESS & ECONOMICS / Banks & Banking Macroeconomics / Econometric models Recessions / Econometric models Unemployment / Econometric models Geschichte Wirtschaft Ökonometrisches Modell Unemployment United States History 20th century Econometric models Unemployment History 20th century Econometric models Macroeconomics Econometric models Recessions Econometric models USA |
| url | http://search.ebscohost.com/login.aspx?direct=true&scope=site&db=nlebk&db=nlabk&AN=548016 |
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