OKUN’S LAW IN OECD COUNTRIES IN 1990 – 2013
OKUN’S LAW IN OECD COUNTRIES IN 1990 – 2013
Author(s): Dariusz J. BłaszczukSubject(s): Economy, Supranational / Global Economy, Recent History (1900 till today), Economic policy
Published by: Szkoła Główna Gospodarstwa Wiejskiego w Warszawie
Keywords: economic policy targets; long-term equilibrium; Okun's law; OECD countries; GDP growth rate; unemployment rate;
Summary/Abstract: Politicians try to reach targets that usually contradict. It leads to lack of optimal long-term equilibrium. The main target should be the maximal growth rate of GDP and other targets should remain within predetermined limits. Politicians should influence relations between every two targets. Empirical study of relations between unemployment and GDP growth rates is done for every OECD country basing on quarterly data for 20 years. According to the results of the investigation countries are put into “strategic groups”. Paper ends with preliminary proposals for economic policy makers.
Journal: Metody Ilościowe w Badaniach Ekonomicznych
- Issue Year: XV/2014
- Issue No: 2
- Page Range: 47-63
- Page Count: 17
- Language: English
