Is there a stable long-run relationship between unemployment and productivity?

Artikel

This paper assesses whether productivity and unemployment have a stable long-run relationship. We explore a panel of 19 OECD countries between 1970 and 2012 and rely on recently developed time series econometric methods. Our findings suggest that unemployment and productivity are non-stationary in levels and in many individual cases these series are cointegrated, even after accounting for possible structural breaks. For many individual countries the long-run effect seems to be generally positive. There is also evidence of two-way causality, but the stronger directional relationship runs from unemployment to productivity.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Journal: Comparative Economic Research. Central and Eastern Europe ; ISSN: 2082-6737 ; Volume: 18 ; Year: 2015 ; Issue: 2 ; Pages: 57-75 ; Warsaw: De Gruyter

Classification and Topics

• Classification: Wirtschaft
• Subject: stationarity ; structural breaks ; cointegration ; DOLS ; Granger causality

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Jalles, João Tovar
• Event: Veröffentlichung
• (who): De Gruyter
• (where): Warsaw
• (when): 2015

Further information

• DOI: doi:10.1515/cer-2015-0012
• Handle: http://hdl.handle.net/10419/184354
• Last update: 10.03.2025, 11:45 AM CET