Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/125650
Authors: 
Marth, Stefan
Year of Publication: 
2015
Series/Report no.: 
WWWforEurope Policy Paper 23
Abstract: 
We examine Okun's Law on the basis of new growth perspectives and in the context of the WWWForEurope project. By comparing Okun's work from 1962 with the latest IMF and OECD surveys, a connection is set up and Okun's theoretical framework is updated and its persistence is examined. In addition, the implicit logic of Okun's Law is expressed and stressed, and literature is reviewed from this point of view as well. Furthermore, the main implicit component of Okun's Law - productivity - is taken into account when discussing its breakdown in the WWWForEurope context. After applying the "Difference method", we derive the conclusion that the Okun coefficients and intercepts vary substantially between countries.
Subjects: 
Okun's law
heterogeneity
technological progress
labour market interventions
JEL: 
JO3
JP28
JB2
JB4
JH2
Document Type: 
Research Report
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