Verification of the Okun's Law Regarding Selected Newly Industrialized Countries
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F47813059%3A19520%2F13%3A%230002266" target="_blank" >RIV/47813059:19520/13:#0002266 - isvavai.cz</a>
Result on the web
<a href="https://mme2013.vspj.cz/about-conference/conference-proceedings" target="_blank" >https://mme2013.vspj.cz/about-conference/conference-proceedings</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Verification of the Okun's Law Regarding Selected Newly Industrialized Countries
Original language description
The widely-used relationship between gross domestic product (GDP) growth and unemployment rate change time series - so-called Okun's Law - was originally revealed by an economist Arthur Okun in early 1960s. Okun observed the negative correlation betweenthe two variables. The relation shows persistency in results over the long-term period. Now, students of economics learn that for 1 % excess of the natural unemployment rate, 2-3 % gross domestic product gap occurs. However, these numbers are based on empirical analysis from the data of the US economy. The main aim of this article is to ascertain validity of the Okun's Law regarding the selected Newly Industrialized Countries - Hong Kong, Singapore, Korea, Philippines, Indonesia, Malaysia and Thailand in 1990 - 2010. The analysis is based on two versions of Okun's law - the difference and the gap version of the Okun's law. Estimations based on the chosen data sets give different results comparing to those from the US time series.
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AH - Economics
OECD FORD branch
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Result continuities
Project
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Continuities
O - Projekt operacniho programu
Others
Publication year
2013
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
Proceedings of the 31st International Conference Mathematical Methods in Economics 2013
ISBN
978-80-87035-76-4
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
563-568
Publisher name
College of Polytechnics Jihlava
Place of publication
Jihlava
Event location
College of Polytechnics Jihlava
Event date
Sep 11, 2013
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
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