This study analyses the relationship between unemployment and economic growth at the international level, addressing the nature and decomposition of the Okun coefficient. Using World Bank data from 173 countries between 1991 and 2019, econometric techniques including decompositions and spatial...

This paper provides new estimates of Okun’s unemployment-output relationship in euro area countries between 1979 and 2019. We find our structural estimates are stable but substantially lower than the reduced-form estimates that tend to characterise the literature and that the responsiveness of...

This paper aims to empirically examine the relationship between GDP and unemployment in Somalia from 2000 to 2021. The study also estimates Okun's coefficient. To evaluate the association between the unemployment rate and economic growth, we employ the Hodrick-Prescott (HP) filter detrending...

Purpose: This paper retested the Okun’s Law established in the 1960s and the subsequent research on Okun’s findings that a 1% increase in unemployment would lead to a 3 % decrease in GDP), i.e. Okun’s coefficient (β)= -3 in diverse economies of sixteen South and Southeast Asia, sixteen...

This study analyses the relationship between unemployment and economic growth at the international level, addressing the nature and decomposition of the Okun coefficient. Using World Bank data from 173 countries between 1991 and 2019, econometric techniques including decompositions and spatial...

We develop the first disaggregation of Okun's law that quantifies all of the information that is subsumed within its coefficients. The proposed method decomposes the coefficients into the sum of the direct effect of the change in output upon the unemployment rate, plus the indirect effects of...

Despite its stability over time, as for any statistical relationship, Okun's law is subject to deviations that can be large at times. In this paper, we provide a mapping between residuals in Okun's regressions and structural shocks identified with a SVAR model by inspecting how unemployment...

We propose a generalized susceptible-exposed-infected-removed (SEIR) model to track COVID-19 in Canadian provinces, taking into account the impact of the pandemics on unemployment. The model is based on a network representing provinces, where the contact between individuals from different...