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Okun's Law revisited

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  • Graeme Chamberlin

    (Office for National Statistics)

Abstract

SummaryThe relationship between changes in output and the unemployment rate is of significant interest around times of recession and economic recovery. This article looks at various aspects of this relationship over time, across various constituents of the labour market and across different countries. The article also explores the interactions between changes in the unemployment rate with the household population, economic activity rate, average hours and labour productivity in accounting for recent output movements in the UK economy and how these compare to previous recessions and recoveries.

Suggested Citation

  • Graeme Chamberlin, 2011. "Okun's Law revisited," Economic & Labour Market Review, Palgrave Macmillan;Office for National Statistics, vol. 5(2), pages 104-132, February.
    • Handle: RePEc:pal:ecolmr:v:5:y:2011:i:2:p:104-132
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    Cited by:

    1. Matiur Rahman & Muhammad Mustafa, 2017. "Okun’s law: evidence of 13 selected developed countries," Journal of Economics and Finance, Springer;Academy of Economics and Finance, vol. 41(2), pages 297-310, April.
    2. Stefan Marth, 2015. "How Strong is the Correlation Between Unemployment and Growth Really? The Persistence of Okun's Law and How to Weaken it. WWWforEurope Policy Paper No. 23," WIFO Studies, WIFO, number 58260, August.
    3. Chenini Moussa & Ayad Hicham & Attouchi Manel & Dahmani Mohamed Driouche, 2023. "Testing the Validity of Okun’s Law in Algeria: Is there a difference between Maki’s Cointegration and Quantile’s Regression Results?," Folia Oeconomica Stetinensia, Sciendo, vol. 23(1), pages 42-63, June.

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