A Quarter Century of Okun?s Law in Scholarly Literature

Kód výsledku v 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>

Výsledek na webu

<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>

Jazyk výsledku

angličtina

Název v původním jazyce

A Quarter Century of Okun?s Law in Scholarly Literature

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

A Quarter Century of Okun?s Law in Scholarly Literature

Popis výsledku anglicky

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.

Druh

J_SC - Článek v periodiku v databázi SCOPUS

CEP obor

—

OECD FORD obor

10103 - Statistics and probability

Projekt

—

Návaznosti

N - Vyzkumna aktivita podporovana z neverejnych zdroju

Rok uplatnění

2025

Kód důvěrnosti údajů

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

Název periodika

Journal of the Knowledge Economy

ISSN

1868-7865

e-ISSN

1868-7873

Svazek periodika

16

Číslo periodika v rámci svazku

6

Stát vydavatele periodika

US - Spojené státy americké

Počet stran výsledku

55

Strana od-do

17784-17839

Kód UT WoS článku

—

EID výsledku v databázi Scopus

2-s2.0-105024098517