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Dynamic analysis of the relation between economic cycle and unemployment cycle: a regional application

Author

Listed:
  • Pérez, Javier J.

    (Universidad Pablo de Olavide)

  • Rodríguez , Jesús

    (Universidad Pablo de Olavide)

  • Usabiaga, Carlos

    (Universidad Pablo de Olavide)

Abstract

The Okun law for Andalusia and Spain is estimated using quarterly data (1984-2000). We take a VAR approach that allows us to unveil the different dynamic behaviour of the relationship between the output gap and the unemployment gap in the two economies, as well as the asymmetric nature of that relationship. Our findings also suggest that the lower responsiveness of the unemployment gap to the output gap in Andalusia is related to two main factors: the flows out of the labour force in recession are larger in Andalusia, and the higher share of the agrarian unemployment.

Suggested Citation

  • Pérez, Javier J. & Rodríguez , Jesús & Usabiaga, Carlos, 2003. "Dynamic analysis of the relation between economic cycle and unemployment cycle: a regional application," INVESTIGACIONES REGIONALES - Journal of REGIONAL RESEARCH, Asociación Española de Ciencia Regional, issue 2, pages 141-162.
    • Handle: RePEc:ris:invreg:0216
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    Citations

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    Cited by:

    1. Iryna Lukianenko & Marianna Oliskevych, 2017. "Evidence of Asymmetries and Nonlinearity of Unemployment and Labour Force Participation Rate in Ukraine," Prague Economic Papers, Prague University of Economics and Business, vol. 2017(5), pages 578-601.
    2. repec:prg:jnlpep:v:preprint:id:633:p:1-24 is not listed on IDEAS

    More about this item

    Keywords

    Okun’s law; business cycle; unemployment; asymmetry; regional economics;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E24 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Employment; Unemployment; Wages; Intergenerational Income Distribution; Aggregate Human Capital; Aggregate Labor Productivity
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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