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Thomas Obst in Scottish Journal of Political Economy External Publication 17. December 2021 Dynamic version of Okun’s law in the EU15 countries: The role of delays in the unemployment‐output nexus

This paper estimates Okun's law in the EU15 countries between 1980 and 2018. It employs different versions with a focus on the dynamic part of the short-run relationship.

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The role of delays in the unemployment‐output nexus
Thomas Obst in Scottish Journal of Political Economy External Publication 17. December 2021

Dynamic version of Okun’s law in the EU15 countries: The role of delays in the unemployment‐output nexus

German Economic Institute (IW) German Economic Institute (IW)

This paper estimates Okun's law in the EU15 countries between 1980 and 2018. It employs different versions with a focus on the dynamic part of the short-run relationship.

We find that the negative relationship between unemployment and output generally holds over time. However, Okun's coefficient varies substantially across countries. The dynamic version can shed light on different country estimates found in the literature. The paper argues that lag effects need to be considered to avoid possible misspecification. A mixed-lag structure indirectly controls for potential missing explanatory variables such as the role of labour market institutions.

to Download
External Publication
The role of delays in the unemployment‐output nexus
Thomas Obst in Scottish Journal of Political Economy External Publication 17. December 2021

Dynamic version of Okun’s law in the EU15 countries: The role of delays in the unemployment‐output nexus

German Economic Institute (IW) German Economic Institute (IW)

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Europe votes: Who cares and why?
Matthias Diermeier / Judith Niehues / Samina Sultan IW-Report No. 29 7. June 2024

Europe votes: Who cares and why?

This study, based on the IW-People Survey 2024, shows that around 62% of Germans consider the election of the European Parliament to be important. This is the result of around 5,200 respondents. The proportion is therefore roughly as high as the voter turnout ...

IW

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Samina Sultan at IEP@BU Policy Brief External Publication 17. April 2024

Not so Different?: Dependency of the German and Italian Industry on China Intermediate Inputs

On average the German and Italian industry display a very similar intermediate input dependence on China, whether accounting for domestic inputs or not.

IW

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