With unemployment in the Eurozone running at over 10%, with some countries like Spain and Greece experiencing in excess of 45% youth unemployment, the loss in potential economic growth is huge. This is coupled with high unemployment's damaging social cost which brings depravity to millions. The...

Abstract Purpose: The purpose of this paper is to empirically investigate Okun’s Law that proposes an inverse relationship between the rate of unemployment and economic growth. In other words, the higher the unemployment rate the lower the economic growth for a given country which represents...