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dc.contributor.authorJeon, Yongboken_US
dc.contributor.authorVernengo, Matíasen_US
dc.date.accessioned2012-09-28T12:39:07Z-
dc.date.available2012-09-28T12:39:07Z-
dc.date.issued2007en_US
dc.identifier.urihttp://hdl.handle.net/10419/64450-
dc.description.abstractChanges in labor productivity have been a source of puzzlement and paradoxical results for economists. We suggest that puzzles and paradoxes vanish once two simple regularities are properly acknowledged. Okun and Verdoorn's Laws explain 87 percent of all the variations in labor productivity. Also, our estimation method and our results suggest that conventional measures of Okun's Law have overestimated the value of the Okun coefficient, and accepted a greater degree of variability than is actually guaranteed by the empirical evidence. Okun's Law has been relatively stable through time, and there is no significant decrease in the value of the parameter since the 1960s.en_US
dc.language.isoengen_US
dc.publisherUniv. of Utah, Dep. of Economics Salt Lake City, Utahen_US
dc.relation.ispartofseriesWorking Paper, University of Utah, Department of Economics 2007-07en_US
dc.subject.jelE32en_US
dc.subject.jelO49en_US
dc.subject.jelO51en_US
dc.subject.ddc330en_US
dc.subject.keywordProductivityen_US
dc.subject.keywordCycleen_US
dc.subject.keywordStructural Changeen_US
dc.subject.stwArbeitsproduktivitäten_US
dc.subject.stwOkun's Lawen_US
dc.subject.stwVerdoorn's Lawen_US
dc.subject.stwUSAen_US
dc.titlePuzzles, paradoxes and regularities: Cyclical and structural productivity in the US (1950 - 2005)en_US
dc.typeWorking Paperen_US
dc.identifier.ppn572641087en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:Department of Economics Working Paper Series, University of Utah

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