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Relación entre las características de los mercados de trabajo latinoamericanos y la ley de Okun

Author

Listed:
  • María Sylvina Porras

    (Universidad de la República (Uruguay). Facultad de Ciencias Económicas y de Administración. Instituto de Economía)

  • Ángel L. Martín-Román

    (Facultad de Ciencias Sociales, Jurídicas y de la Comunicación)

Abstract

The Okun's law has been confirmed in several Latin American countries, regardless of the model used, and the estimated coefficients indicate a weaker relationship between GDP and unemployment than in developed countries. On the other hand, there is a group of countries where the coefficients are not significant, or the values are very close to zero. These countries have the highest values of the following variables that characterize their labour markets: own-account employment, unpaid family workers, informal employment and employment in the agricultural sector.

Suggested Citation

  • María Sylvina Porras & Ángel L. Martín-Román, 2020. "Relación entre las características de los mercados de trabajo latinoamericanos y la ley de Okun," Documentos de Trabajo (working papers) 20-10, Instituto de Economía - IECON.
    • Handle: RePEc:ulr:wpaper:dt-10-20
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    File URL: https://hdl.handle.net/20.500.12008/25624
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    More about this item

    Keywords

    Okuns’s law; unemployment; GDP growth; own-account employment; unpaid family workers; informal employment; employment in the agricultural sector;
    All these keywords.

    JEL classification:

    • 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
    • E26 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Informal Economy; Underground Economy
    • J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search

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