A Quarter Century of Okun?s Law in Scholarly Literature

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F44555601%3A13440%2F25%3A43899766" target="_blank" >RIV/44555601:13440/25:43899766 - isvavai.cz</a>

Result on the web

<a href="https://link.springer.com/article/10.1007/s13132-024-02425-7" target="_blank" >https://link.springer.com/article/10.1007/s13132-024-02425-7</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1007/s13132-024-02425-7" target="_blank" >10.1007/s13132-024-02425-7</a>

Result language

angličtina

Original language name

A Quarter Century of Okun?s Law in Scholarly Literature

Original language description

In order to canvass the state of the art of research on Okun?s law, the paper surveys 84 articles published in Web of Science? journals between 1995 and 2020 occupied with estimating the relationship between unemployment and output in the spirit of an approach proposed by Okun (1962). A bibliometric analysis is conducted to identify the most influential works and authors, to establish links between them, and to outline research fronts with main paths of knowledge diffusion. Under a content analysis, the articles included in the survey are further classified by their leitmotif and research agenda as well as by their geographical scope. The basal methodological choices of the articles are overviewed and their temporal patterns are studied. An emphasis is put on the stylized facts constituting the research agenda of 57 of the surveyed applications of Okun?s law (such as instability over time, asymmetries, or age and gender specificity). A majority of studies estimated Okun?s law on the basis of a regression equation that may suggest that it is unemployment that responds to fluctuations in output and adopted the difference version of Okun?s law. In estimating the gap version, the Hodrick-Prescott filter has continued to be a preferred choice despite its well-known flawed statistical properties. Lotka?s law indicates an above-average level of research productivity of authors in this field. The findings provide insights into the intellectual structure of the empirics of Okun?s law and act as guidance for future research on cyclical unemployment-output fluctuations.

Czech name

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Czech description

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Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

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OECD FORD branch

10103 - Statistics and probability

Project

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Continuities

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Publication year

2025

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Journal of the Knowledge Economy

ISSN

1868-7865

e-ISSN

1868-7873

Volume of the periodical

16

Issue of the periodical within the volume

6

Country of publishing house

US - UNITED STATES

Number of pages

55

Pages from-to

17784-17839

UT code for WoS article

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EID of the result in the Scopus database

2-s2.0-105024098517