Using a novel methodology, we offer new evidence that a threshold relationship exists for Okun's law. We use a logistic smoothed transition regression (LSTR) model where possible threshold endogeneity is addressed based on copula theory. We also suggest a new test of the linearity hypothesis...

This book offers a comprehensive guide to the on-going Greek debt crisis. It identifies and explains Greece’s idiosyncratic weaknesses, and highlights the existing rigidities in the EU architecture that make the recovery prospects of the Greek economy challenging. Chapters from expert...

This research note investigates the relationship between output and unemployment in Greece at a regional level through the implementation of Okuns’s law. Current practice is primarily restricted to the national level, and thus ignores the regional dimension of this relationship. To this end,...