The impact of GDP growth rate on unemployment in the eurozone.
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URI: http://hdl.handle.net/10317/7042Share
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Marqués López, DaríoDirector/a
Badillo Amador, Rosa María; Tena Nebot, SusanaCenter
Facultad de Ciencias de la EmpresaUniversity
Universidad Politécnica de CartagenaDepartment
EconomíaKnowledge Area
Fundamentos del Análisis EconómicoPublication date
2018Keywords
DesempleoUnemployment
Crecimiento económico
Economic growth
Abstract
The purpose of this study is to analyze, inside the Okun’s
Law framework, the
effect
the growth of production has on the unemployment rate on each country of
the Eurozone. Additionally, the reasons why this effect can be different between
countries will be analyzed.
The Okun’s Law is a well known empirically inverse relationship between
the
unemployment rate and production growth rate variables of a given country.
This concept was defined in 1962 by the american economist Arthur Okun. In this
study, Okun did notice a strong linear relationship between the GDP growth rate
and the unemploy
ment rate from 1947 to 1960 for the United States, which is still
relevant in financial and
macro
economic fields.
Regarding to the definition of Okun’s Law, the mentioned relationship between
GDP, unemployment rate and their own percentage variatio
ns must
be necessarely
negative
(
Ceteris Paribus
)
.
Essentially, economies in a position ...
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