Firms' confidence and Okun's law in OECD countries

Autor:	Helder Ferreira de Mendonça, Diego Silveira Pacheco de Oliveira
Rok vydání:	2019
Předmět:	Economics and Econometrics Output gap media_common.quotation_subject Unemployment Economics Econometrics Okun's law Consumer confidence index sense organs Oecd countries Empirical evidence media_common
Zdroj:	Economic Modelling. 78:98-107
ISSN:	0264-9993
DOI:	10.1016/j.econmod.2018.08.015
Popis:	Based on panel quarterly data regarding fifteen OECD countries for the period from 2001 to 2016, we provide empirical evidence for the relationship between firms' confidence and Okun's coefficient. In particular, we analyze if changes (updates) and persistent changes of firms' confidence have different implications for the Okun's coefficient. Based on Business Confidence Index and Managerial Sentiment Indicator we build indicators for measuring updates of the firms' confidence and performed several regressions. The findings denote that updates of medium-term as well as persistent updates of the firm's confidence are able to change the link between unemployment and output growth.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::221a7e66c9815ac3244a847971942264 https://doi.org/10.1016/j.econmod.2018.08.015 Zobrazit plný text záznamu Full Text from ScienceDirect