| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13369 |
| DP13369 Beyond Okun's Law: Output Growth and Labor Market Flows | |
| Guay Lim; Robert Dixon; Jan C. van Ours | |
| 发表日期 | 2018-12-06 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | This paper studies the relationship between the change in the unemployment rate and output growth using an approach based on labor market flows. The framework shows why the Okun coefficient may be constant/time-varying and/or symmetric/asymmetric and that the outcome lies with the behavior of the labor flows in response to growth. The encompassing framework nests the conditions to determine the properties of the Okun coefficient without the need to rely on retrospective arbitrary dating of recessions. The framework also highlights the potential misspecification in conventional models of Okun's Law unless stringent conditions are assumed about the behavior of labor flows. The empirical analysis is based on the stock-consistent labor market flows data developed by the BLS for the period 1990:2-2017:3. |
| 主题 | Labour Economics |
| 关键词 | Labor flows Time-varying okun Asymmetry |
| URL | https://cepr.org/publications/dp13369 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542180 |
| 推荐引用方式 GB/T 7714 | Guay Lim,Robert Dixon,Jan C. van Ours. DP13369 Beyond Okun's Law: Output Growth and Labor Market Flows. 2018. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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