The Relationship of GDP, Unemployment Rateand Employment: In-depth Analysis of Okun’s Law for Russia-Reference-Cited by-同舟云学术

The Relationship of GDP, Unemployment Rateand Employment: In-depth Analysis of Okun’s Law for Russia

Published:2015-03-20 Issue:3 Volume: Page:5-27
ISSN:0042-8736
Container-title:Voprosy Ekonomiki
language:
Short-container-title:Vopr. èkon.

Author:

Vakulenko E.¹,Gurvich E.²

Affiliation:

1. National Research University Higher School of Economics (Moscow, Russia)

2. Economic Expert Group (Moscow, Russia)

Abstract

The authors estimate the short-term and long-term relationship GDP- unemployment (employment). These are the first reliable and robust confirmations of Okun’s law validity for Russia. It has been shown that the reaction of unemployment to output decline is much stronger than the response to output growth of the same size. Cross-country comparisons give evidence that Okun’s coefficient for Russia is slightly inferior to the same indicator for most developed countries, but is similar to coefficients found for other emerging markets.

Publisher

NP Voprosy Ekonomiki

Subject

Economics and Econometrics,Finance

Reference44 articles.

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