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The Dependence between Unemployment and GDP in Bulgaria: Application of Direct and Reverse Regression

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  • Christo Mavrov

Abstract

Examined is the dependence between rates of growth and change in the level of unemployment, known as Okun’s law. A position is held that because of the bilateral character of the dependence two regressions can be applied – direct and reverse. A stand is taken that there exists a bilateral dependence between unemployment and gross domestic product and the choice on a model of assessment (direct or reverse regression) is determined by the goals of the researcher.

Suggested Citation

  • Christo Mavrov, 2007. "The Dependence between Unemployment and GDP in Bulgaria: Application of Direct and Reverse Regression," Economic Thought journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 45-65.
    • Handle: RePEc:bas:econth:y:2007:i:6:p:45-65
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    References listed on IDEAS

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    1. Hubert Gabrisch & Herbert Buscher, 2006. "The Relationship between Unemployment and Output in Post-communist Countries," Post-Communist Economies, Taylor & Francis Journals, vol. 18(3), pages 261-276.
    2. Plosser, Charles I. & Schwert, G. William, 1979. "Potential GNP: Its measurement and significance : A dissenting opinion," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 10(1), pages 179-186, January.
    3. Gert Schnabel, 2002. "Output trends and Okun's law," BIS Working Papers 111, Bank for International Settlements.
    4. James Tobin, 2003. "World Finance and Economic Stability," Books, Edward Elgar Publishing, number 2644.
    5. David E. Altig & Terry J. Fitzgerald & Peter Rupert, 1997. "Okun's law revisited: should we worry about low unemployment?," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
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    More about this item

    JEL classification:

    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
    • E23 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Production
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity

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