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Unemployment and growth: some empirical evidence from structural time series models

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Abstract:

This study investigates the empirical relationship between unemployment and growth in a number of OECD economies. A structural time series model is used for labour productivity growth to demonstrate that, in most economies, there seems to be a negative correlation between unemployment and labour productivity growth. The results provide little support for the theory that recessions may stimulate productivity growth. The use of a structural time series approach allows an attempt to model the underlying dynamics of productivity growth jointly with the effect of unemployment.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840010003276

Publication date: June 20, 2001

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