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Erscheinungsjahr: 
2015
Quellenangabe: 
[Journal:] Comparative Economic Research. Central and Eastern Europe [ISSN:] 2082-6737 [Volume:] 18 [Issue:] 2 [Publisher:] De Gruyter [Place:] Warsaw [Year:] 2015 [Pages:] 57-75
Verlag: 
De Gruyter, Warsaw
Zusammenfassung: 
This paper assesses whether productivity and unemployment have a stable long-run relationship. We explore a panel of 19 OECD countries between 1970 and 2012 and rely on recently developed time series econometric methods. Our findings suggest that unemployment and productivity are non-stationary in levels and in many individual cases these series are cointegrated, even after accounting for possible structural breaks. For many individual countries the long-run effect seems to be generally positive. There is also evidence of two-way causality, but the stronger directional relationship runs from unemployment to productivity.
Schlagwörter: 
stationarity
structural breaks
cointegration
DOLS
Granger causality
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