|
|
|||
|
||||
OverviewThis 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 isa strong and stable relationship in most countries, one that did not change substantiallyduring 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 labormarkets, but it is not related to differences in employment protection legislation. Full Product DetailsAuthor: Laurence M Ball , Daniel LeighPublisher: International Monetary Fund Imprint: International Monetary Fund ISBN: 9781299264489ISBN 10: 1299264484 Pages: 41 Publication Date: 01 January 2013 Audience: General/trade , General Format: Electronic book text Publisher's Status: Active Availability: In stock We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |