Okun's coefficient: A comment

• 成果类型: Article
• 署名作者: Attfield, CLF; Silverstone, B
• 署名单位: University of Waikato
• 刊物名称: REVIEW OF ECONOMICS AND STATISTICS
• ISSN/ISSBN: 0034-6535
• DOI: 10.1162/003465397556692
• 发表日期: 1997-05
• 页码: 326-329
• 关键词: cointegration vectors; LAW; heteroskedasticity; estimator; systems

摘要

This paper reassesses a finding by Martin Prachowny (1993) that the value of the Okun coefficient for the United States (linking unemployment changes to output changes) is only around -0.67 rather than around the more typical value of -2.25. Using a cointegration framework, and the same data sets as Prachowny, we find, for one of the data sets, that the Okun coefficient is much closer to a value of -2.25, which supports previous research work.