Year: 2015
Author: Jalles, João Tovar
Applied Economics Quarterly, Vol. 61 (2015), Iss. 2 : pp. 141–153
Abstract
This paper empirically investigates the link between productivity and unemployment in a panel of 19 OECD countries between 1970 and 2010. By means of recently developed panel data econometric methods, we find that unemployment and productivity are non-stationary in levels and they are cointegrated for the panel as a whole. In terms of causality, the stronger directional relationship runs from unemployment to productivity. Furthermore, the long-run effect seems to be generally positive, therefore favouring of those theories which suggest that prolonged recessions foster long-run productivity improvements.
JEL Classification: C32, E32, J21, O40, O57
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Journal Article Details
Publisher Name: Global Science Press
Language: English
DOI: https://doi.org/10.3790/aeq.61.2.141
Applied Economics Quarterly, Vol. 61 (2015), Iss. 2 : pp. 141–153
Published online: 2015-06
AMS Subject Headings: Duncker & Humblot
Copyright: COPYRIGHT: © Global Science Press
Pages: 13
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