Regional growth and unemployment in the medium run: asymmetric cointegrated Okun’s Law for UK regions
| Autor: | Silvia Palombi, Christophe Tavera, Roger Perman |
|---|---|
| Přispěvatelé: | University of Strathclyde [Glasgow], Centre de recherche en économie et management (CREM), Université de Caen Normandie (UNICAEN), Normandie Université (NU)-Normandie Université (NU)-Université de Rennes (UR)-Centre National de la Recherche Scientifique (CNRS), Normandie Université (NU)-Normandie Université (NU)-Université de Rennes 1 (UR1), Université de Rennes (UNIV-RENNES)-Université de Rennes (UNIV-RENNES)-Centre National de la Recherche Scientifique (CNRS) |
| Jazyk: | angličtina |
| Rok vydání: | 2015 |
| Předmět: |
panel cointegration
Economics and Econometrics Okun’s Law JEL: C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C23 - Panel Data Models • Spatio-temporal Models JEL: E - Macroeconomics and Monetary Economics/E.E3 - Prices Business Fluctuations and Cycles/E.E3.E32 - Business Fluctuations • Cycles Cointegration media_common.quotation_subject Keynesian economics Novelty JEL: C - Mathematical and Quantitative Methods/C.C2 - Single Equation Models • Single Variables/C.C2.C22 - Time-Series Models • Dynamic Quantile Regressions • Dynamic Treatment Effect Models • Diffusion Processes Okun's law [SHS.ECO]Humanities and Social Sciences/Economics and Finance HT388 8. Economic growth Unemployment Economics Unemployment rate JEL: E - Macroeconomics and Monetary Economics/E.E6 - Macroeconomic Policy Macroeconomic Aspects of Public Finance and General Outlook/E.E6.E60 - General hidden cointegration regional growth regional unemployment JEL: E - Macroeconomics and Monetary Economics/E.E2 - Consumption Saving Production Investment Labor Markets and Informal Economy/E.E2.E24 - Employment • Unemployment • Wages • Intergenerational Income Distribution • Aggregate Human Capital • Aggregate Labor Productivity media_common Panel data |
| Zdroj: | Applied Economics Applied Economics, 2015, 47 (57), pp.6228-6238. ⟨10.1080/00036846.2015.1068922⟩ Applied Economics, Taylor & Francis (Routledge), 2015, 47 (57), pp.6228-6238. ⟨10.1080/00036846.2015.1068922⟩ |
| ISSN: | 0003-6846 1466-4283 |
| DOI: | 10.1080/00036846.2015.1068922⟩ |
| Popis: | International audience; This paper tests for the presence of a long run asymmetric Okun’s Law relationship between regional output and regional unemployment rate in U.K. regions. The existence of cointegration is tested with a panel data version of the hidden cointegration technique suggested by Granger and Yoon. A novelty of the paper is to combine the method of hidden cointegration with a panel data method of removing crosssectional dependence. The long run Okun relationship for regions in the U.K. appears to confirm results found elsewhere in the literature on countries as a whole, although the coefficients tend to be smaller. |
| Databáze: | OpenAIRE |
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