Okun’s law across time and frequencies

Bibliographic Details
Main Author: Aguiar-Conraria, Luís
Publication Date: 2019
Other Authors: Martins, Manuel M. F., Soares, Maria Joana
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: https://hdl.handle.net/1822/61961
Summary: We present the first assessment of U.S. Okun’s Law across time and frequencies, with a set of continuous wavelet tools that allows for estimating Okun’s coefficient and the lead/lag of output over unemployment at each moment of time for each cyclical frequency. We find similar results for the gaps and the first differences specifications at business cycles frequencies, but not at medium and long run cycles. Okun’s coefficient has increased (in absolute value) since the mid-1960s, except in 1985-1995, and is not particularly sensitive to recessions. The lead of output varies considerably along time and also at the different frequencies.
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spelling Okun’s law across time and frequenciesOkun’s LawUnemploymentBusiness CyclesWavelet GainTime-Frequency EstimationContinuous Wavelet TransformWe present the first assessment of U.S. Okun’s Law across time and frequencies, with a set of continuous wavelet tools that allows for estimating Okun’s coefficient and the lead/lag of output over unemployment at each moment of time for each cyclical frequency. We find similar results for the gaps and the first differences specifications at business cycles frequencies, but not at medium and long run cycles. Okun’s coefficient has increased (in absolute value) since the mid-1960s, except in 1985-1995, and is not particularly sensitive to recessions. The lead of output varies considerably along time and also at the different frequencies.Fundação para a Ciência e Tecnologia (FCT)Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)Universidade do MinhoAguiar-Conraria, LuísMartins, Manuel M. F.Soares, Maria Joana20192019-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://hdl.handle.net/1822/61961enghttps://www.eeg.uminho.pt/pt/investigar/nipe/Paginas/publicacoes.aspxinfo:eu-repo/semantics/openAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-05-11T06:28:57Zoai:repositorium.sdum.uminho.pt:1822/61961Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T15:54:28.123199Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Okun’s law across time and frequencies
title Okun’s law across time and frequencies
spellingShingle Okun’s law across time and frequencies
Aguiar-Conraria, Luís
Okun’s Law
Unemployment
Business Cycles
Wavelet Gain
Time-Frequency Estimation
Continuous Wavelet Transform
title_short Okun’s law across time and frequencies
title_full Okun’s law across time and frequencies
title_fullStr Okun’s law across time and frequencies
title_full_unstemmed Okun’s law across time and frequencies
title_sort Okun’s law across time and frequencies
author Aguiar-Conraria, Luís
author_facet Aguiar-Conraria, Luís
Martins, Manuel M. F.
Soares, Maria Joana
author_role author
author2 Martins, Manuel M. F.
Soares, Maria Joana
author2_role author
author
dc.contributor.none.fl_str_mv Universidade do Minho
dc.contributor.author.fl_str_mv Aguiar-Conraria, Luís
Martins, Manuel M. F.
Soares, Maria Joana
dc.subject.por.fl_str_mv Okun’s Law
Unemployment
Business Cycles
Wavelet Gain
Time-Frequency Estimation
Continuous Wavelet Transform
topic Okun’s Law
Unemployment
Business Cycles
Wavelet Gain
Time-Frequency Estimation
Continuous Wavelet Transform
description We present the first assessment of U.S. Okun’s Law across time and frequencies, with a set of continuous wavelet tools that allows for estimating Okun’s coefficient and the lead/lag of output over unemployment at each moment of time for each cyclical frequency. We find similar results for the gaps and the first differences specifications at business cycles frequencies, but not at medium and long run cycles. Okun’s coefficient has increased (in absolute value) since the mid-1960s, except in 1985-1995, and is not particularly sensitive to recessions. The lead of output varies considerably along time and also at the different frequencies.
publishDate 2019
dc.date.none.fl_str_mv 2019
2019-01-01T00:00:00Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://hdl.handle.net/1822/61961
url https://hdl.handle.net/1822/61961
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv https://www.eeg.uminho.pt/pt/investigar/nipe/Paginas/publicacoes.aspx
dc.rights.driver.fl_str_mv info:eu-repo/semantics/openAccess
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
publisher.none.fl_str_mv Universidade do Minho. Núcleo de Investigação em Políticas Económicas (NIPE)
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
institution RCAAP
reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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