The Diversity of Okun's Coefficient in the Regions of Poland

Kliber, Paweł

doi:10.2139/ssrn.2461427

Cited by 2 publications

(1 citation statement)

References 19 publications

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“…For almost all countries, research confirms a higher youth—rather than total—unemployment rate sensitivity to output gap fluctuations (both positive and negative) (Butkus and Seputiene 2019 ; Bluedorn et al 2019 ; Dunsch 2017 ) and suggests highest absolute Okun coefficients among youth cohort (Hutengs and Stadtmann 2013b ) (Hutengs and Stadtmann 2013a ). It is worth emphasizing that “Okun coefficient” shows significant regional differences as well (Kliber 2021 ), (Bartosik 2020 ); it may also apply to countries, as a result of which any turbulence in the economy may, to a various extent, be manifested in a deterioration of the situation of young people. As shown (Dunsch 2017 ) based on the example of Poland and Germany, in Poland the differences between the sensitivity of young people to macroeconomic shocks are greater, whereas in Germany they remain statistically insignificant, and thus, “Polish people are hit harder by macroeconomic shocks in comparison with young German people.…”

Section: Factors Determining the Position Of Young Women And Men On Domestic Labor Marketsmentioning

confidence: 99%

The impact of macroeconomic and structural factors on the unemployment of young women and men

Bal-Domańska

2021

Econ Change Restruct

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The presented article follows the research mainstream of econometric analyses focused on the assessment of correlations between youth unemployment rate and market and macroeconomic determinants, including economic growth and productivity of the economy, its structure in terms of NACE Rev.2 sections as well as the labor market tools. The research addresses 28 European Union (EU) countries. The analysis period covers the years 2008–2018. The econometric methods dedicated to panel data were used. The research results confirm the importance of the general economic condition as well as the development of knowledge-based economy for the improvement of the youth situation in the labor market. With regard to the economy structure, the development of manufacturing section importance turned out to be a major factor in female youth unemployment rate reduction. The growing importance of the construction sector translated into a decline in the unemployment rate among young men.

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Section: Factors Determining the Position Of Young Women And Men On Domestic Labor Marketsmentioning

confidence: 99%

The impact of macroeconomic and structural factors on the unemployment of young women and men

Bal-Domańska

2021

Econ Change Restruct

View full text Add to dashboard Cite

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Empirical Evidences Regarding Okun's Law in the Central and Eastern Europe in the Post – Financial Crisis Period

Andreescu

2024

Proceedings of the International Conference on Business Excellence

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Numerous studies have been conducted based on Okun’s Law (1962), researchers proposing various approaches, while the two most common are the difference approach, which reflects the link between the variation of unemployment rate and the output growth, and the gap approach, which shows the relationship between the deviation of the actual unemployment rate from the natural unemployment rate and the Gross Domestic Product (GDP) gap. In order to see how the relationship looks like over time and how the Okun’s coefficient varies from country to country, this study analyzes the sensitivity of unemployment at output changes while carries out a comparative analysis for Central and Eastern Europe (CEE) countries, regarding Okun's Law applicability in the post-financial crisis period, taking into consideration previous relevant researches. Therefore, the assessment is based on quarterly data, between 2010 and 2019, for unemployment and economic growth, recorded in five CEE countries, members of the Organization for Economic Co-operation and Development (OECD): Bulgaria, Czech Republic, Hungary, Poland and Romania. While the research is based both on the gap and difference method, it may lead to results sensitive to the method chosen in order to assess the unobservable variables, namely potential output and natural unemployment rate. In order to determine the structural components of the GDP and unemployment rate, it is used the Hodrick-Prescott univariate filter, applied on quarterly data. Before estimating the Okun's coefficient, the study also examines the causality relationship between unemployment and GDP using Granger causality test.

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The Diversity of Okun's Coefficient in the Regions of Poland

Cited by 2 publications

References 19 publications

The impact of macroeconomic and structural factors on the unemployment of young women and men

The impact of macroeconomic and structural factors on the unemployment of young women and men

Empirical Evidences Regarding Okun's Law in the Central and Eastern Europe in the Post – Financial Crisis Period

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