Verification of the Okun's Law Regarding Selected Newly Industrialized Countries
Identifikátory výsledku
Kód výsledku v 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>
Výsledek na webu
<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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Alternativní jazyky
Jazyk výsledku
angličtina
Název v původním jazyce
Verification of the Okun's Law Regarding Selected Newly Industrialized Countries
Popis výsledku v původním jazyce
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.
Název v anglickém jazyce
Verification of the Okun's Law Regarding Selected Newly Industrialized Countries
Popis výsledku anglicky
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.
Klasifikace
Druh
D - Stať ve sborníku
CEP obor
AH - Ekonomie
OECD FORD obor
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Návaznosti výsledku
Projekt
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Návaznosti
O - Projekt operacniho programu
Ostatní
Rok uplatnění
2013
Kód důvěrnosti údajů
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Údaje specifické pro druh výsledku
Název statě ve sborníku
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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Počet stran výsledku
6
Strana od-do
563-568
Název nakladatele
College of Polytechnics Jihlava
Místo vydání
Jihlava
Místo konání akce
College of Polytechnics Jihlava
Datum konání akce
11. 9. 2013
Typ akce podle státní příslušnosti
WRD - Celosvětová akce
Kód UT WoS článku
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