Short and Long Effects of Productivity on Unemployment

Chen P, Semmler W (2018)
OPEN ECONOMIES REVIEW 29(4): 853-878.

Zeitschriftenaufsatz | Veröffentlicht | Englisch
 
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Abstract / Bemerkung
Okun's (1962) seminal paper is an important study on economic growth and unemployment but a detailed exploration of the effect of productivity growth on unemployment has been left aside. Yet, the relationship between productivity growth and unemployment has been debated since long. In this paper we present stylized facts on the link between productivity growth and unemployment for the short and long run, and present model variants that demonstrate that in the short run productivity growth may increase unemployment while in the long run the relationship between productivity growth and unemployment are likely to co-vary negatively. Using US data, empirically we decompose the time series of unemployment rate and productivity growth into long run and short run components and show empirical evidence that the long run and short run components co-vary as predicted by some theories.
Stichworte
Okun's law; Technological unemployment; Multi-regime study
Erscheinungsjahr
2018
Zeitschriftentitel
OPEN ECONOMIES REVIEW
Band
29
Ausgabe
4
Seite(n)
853-878
ISSN
0923-7992
eISSN
1573-708X
Page URI
https://pub.uni-bielefeld.de/record/2931104

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Chen P, Semmler W. Short and Long Effects of Productivity on Unemployment. OPEN ECONOMIES REVIEW. 2018;29(4):853-878.
Chen, P., & Semmler, W. (2018). Short and Long Effects of Productivity on Unemployment. OPEN ECONOMIES REVIEW, 29(4), 853-878. doi:10.1007/s11079-018-9486-z
Chen, P., and Semmler, W. (2018). Short and Long Effects of Productivity on Unemployment. OPEN ECONOMIES REVIEW 29, 853-878.
Chen, P., & Semmler, W., 2018. Short and Long Effects of Productivity on Unemployment. OPEN ECONOMIES REVIEW, 29(4), p 853-878.
P. Chen and W. Semmler, “Short and Long Effects of Productivity on Unemployment”, OPEN ECONOMIES REVIEW, vol. 29, 2018, pp. 853-878.
Chen, P., Semmler, W.: Short and Long Effects of Productivity on Unemployment. OPEN ECONOMIES REVIEW. 29, 853-878 (2018).
Chen, Pu, and Semmler, Willi. “Short and Long Effects of Productivity on Unemployment”. OPEN ECONOMIES REVIEW 29.4 (2018): 853-878.