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Okun's Coefficient: A Comment

Clifford L. F. Attfield1; Brian Silverstone2

1 University of Bristol · 2 University of Waikato

The Review of Economics and Statistics 1997

This paper reassesses a finding by Martin Prachowny (1993) that the value of the Okun coefficient for the United States (linking unemployment changes to output changes) is only around −0.67 rather than around the more typical value of −2.25. Using a cointegration framework, and the same data sets as Prachowny, we find, for one of the data sets, that the Okun coefficient is much closer to a value of −2.25, which supports previous research work.

DOI
10.1162/003465397556692
Volume
79 (2)
Pages
326-329
Language
en
Export
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Sources
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