Regional growth and unemployment in the medium run: asymmetric cointegrated Okun's Law for UK regions

被引：10

作者：

Palombi, Silvia ^{[1
]}

Perman, Roger ^{[1
]}

Tavera, Christophe ^{[2
]}

机构：

[1] Univ Strathclyde, Dept Econ, Glasgow G4 OLN, Lanark, Scotland

[2] Univ Rennes 1, CREM, F-35065 Rennes, France

来源：

APPLIED ECONOMICS | 2015年 / 47卷 / 57期

关键词：

Okun's Law; hidden cointegration; panel cointegration; regional growth; regional unemployment; OUTPUT; TESTS;

D O I：

10.1080/00036846.2015.1068922

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This article tests for the presence of a medium-run asymmetric Okun's Law relationship between regional output and regional unemployment rate in UK regions. The test is performed with a panel data version of the hidden cointegration technique suggested by Granger and Yoon. A novelty of the article is to combine the method of hidden cointegration with a panel data method of removing cross-sectional dependence. The medium-run Okun relationship for regions in the UK appears to confirm results found elsewhere in the literature on countries as a whole, although the coefficients tend to be smaller.

引用

页码：6228 / 6238

页数：11

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