Testing Okun's law with Swiss industry data

Jochen Hartwig

Okun's Law postulates a stable relationship between quarterly output growth and changes in (un)employment. This proposition has so far been tested with macroeconomic data at the highest level of aggregation. The paper goes beyond that in extending the analysis to industry data from Switzerland, applying a method suggested by the International Monetary Fund. Another focus is on whether expansions in production have become more 'jobless' over the most recent business cycle compared to earlier on. This does not seem to be the case in Switzerland, except in the construction industry.

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Year of publication:	2014
Authors:	Hartwig, Jochen
Publisher:	Zürich : KOF
Subject:	Okun's Law \| Jobless growth \| Industry data \| Switzerland \| Schweiz \| Okunsches Gesetz \| Okun's law \| Arbeitslosigkeit \| Unemployment \| Wirtschaftswachstum \| Economic growth \| Schätzung \| Estimation