Stability and Asymmetry in Okun’s Law. Evidence from Spanish Regional Data

Authors

  • Antonio Cutanda Universidad de Valencia, Facultad de Economía, Departamento de Análisis Económico, Valencia, Spain

DOI:

https://doi.org/10.2298/PAN191203012C

Keywords:

Unemployment, Okun’s law, Economic cycles, Regional growth

Abstract

This paper analyzes Okun’s Law for Spain using regional data. The results confirm a very high Okun coefficient for Spain, with a high degree of regional heterogeneity. Furthermore, we find that panel data techniques provide notably more stable estimates than time series techniques applied to the same regional data. Finally, the results reveal a remarkable degree of regional heterogeneity in cyclical asymmetry in Okun’s Law for the Spanish case. 

JEL: E24, E32, R11.

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Published

2020-09-11 — Updated on 2023-02-18

How to Cite

Cutanda, A. (2023). Stability and Asymmetry in Okun’s Law. Evidence from Spanish Regional Data. Panoeconomicus, 70(2), 219–238. https://doi.org/10.2298/PAN191203012C

Issue

Vol. 70 No. 2 (2023)

Section

Original scientific paper