教師資料查詢 | 類別: 期刊論文 | 教師: 黃河泉 HO-CHUAN HUANG (瀏覽個人網頁)

標題:Okun's Law in Panels of Countries and States
學年101
學期1
出版(發表)日期2013/01/01
作品名稱Okun's Law in Panels of Countries and States
作品名稱(其他語言)
著者Huang, Ho-chuan; Yeh, Chih-chuan
單位淡江大學財務金融學系
出版者Abingdon: Routledge
著錄名稱、卷期、頁數Applied Economics 45(2), pp.191-199
摘要This article contributes to the empirical literature of Okun's law in three respects. First, in contrast to the limited data used in the existing studies, we employ two extensive (across countries and across states, i.e. within a country) panel data sets to investigate the validity of Okun's law. Second, the use of the Pooled Mean Group (PMG) estimator permits us not to pre-filter the data as often done in the current literature, and can take into account the possibility of cointegration between unemployment and output. Third, in addition to the short-run relationship or cyclical components between unemployment and output, we also estimate the long-run linkage between these two important variables. Empirical results show that unemployment and output are long-run cointegrated, irrespective of using country- or state-level data. Moreover, the unemployment-output linkages are found to be negative and highly significant both in the short- and long-run. Our results not only confirm the validity of Okun's law (in the short-run) but also point out that a similar tradeoff exists in the long run.
關鍵字Okun's law; panel data; pooled mean group estimator
語言英文
ISSN0003-6846;1466-4283
期刊性質國外
收錄於SSCI
產學合作
通訊作者Huang, Ho-chuan
審稿制度
國別英國
公開徵稿
出版型式紙本;電子版
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