Okun's law, cointegration and gap variables

被引：44

作者：

Attfield, CLF ^{[1
]}

Silverstone, B ^{[1
]}

机构：

[1] Univ Bristol, Bristol, Avon, England

来源：

JOURNAL OF MACROECONOMICS | 1998年 / 20卷 / 03期

关键词：

D O I：

10.1016/S0164-0704(98)00076-7

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

If output and unemployment are cointegrated, and we equate Okun's "potential" magnitudes with the stochastic trend or "permanent" component in output and unemployment, (both defined in terms of the Beveridge and Nelson decomposition), then Okun's coefficient can be interpreted as the cointegrating coefficient between the variables. In addition output and unemployment "gaps" can be calculated from the vector equilibrium correction model linking the two variables.

引用

页码：625 / 637

页数：13

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