Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/64450 
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dc.contributor.authorJeon, Yongboken
dc.contributor.authorVernengo, Matíasen
dc.date.accessioned2012-09-28T12:39:07Z-
dc.date.available2012-09-28T12:39:07Z-
dc.date.issued2007-
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
dc.language.isoengen
dc.publisher|aThe University of Utah, Department of Economics |cSalt Lake City, UTen
dc.relation.ispartofseries|aWorking Paper |x2007-07en
dc.subject.jelE32en
dc.subject.jelO49en
dc.subject.jelO51en
dc.subject.ddc330en
dc.subject.keywordProductivityen
dc.subject.keywordCycleen
dc.subject.keywordStructural Changeen
dc.subject.stwArbeitsproduktivitäten
dc.subject.stwOkun's Lawen
dc.subject.stwVerdoorn's Lawen
dc.subject.stwUSAen
dc.titlePuzzles, paradoxes and regularities: Cyclical and structural productivity in the US (1950 - 2005)-
dc.typeWorking Paperen
dc.identifier.ppn572641087en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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