文章基本信息

标题：An Empirical Estimation of Okun’S Law in Context of Pakistan
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作者：Misbah Akram ; Shahzad Hussain ; Syed Hasan Raza 等
期刊名称：Journal of Finance and Economics
印刷版ISSN：2328-7284
电子版ISSN：2328-7276
出版年度：2014
卷号：2
期号：5
页码：173-177
DOI：10.12691/jfe-2-5-7
语种：English
出版社：Science and Education Publishing
摘要：This research work is on the topic of an empirical estimation of Okun’s law in context of Pakistan. Coefficient of Okun’s law is estimated to check whether this law exist in Pakistan’s economy or not. Okun’s law shows three to one link between real GDP and rate of unemployment. Time series data of real GDP and rate of unemployment of Pakistan have been used to find the validity of Okun’s law. Duration of data is 1972 - 2012. Different three versions of Okun’s law gap version, difference version and dynamic version are used to calculate the Okun’s coefficient. Ordinary least square method is applied for analysis. The empirical results show that there is no existence of Okun’s law in Pakistan’s economy. Coefficients estimated by using all the three versions are very small and reject the presence of this law in Pakistan.
关键词：Okun’s law; gap version; difference version; dynamic version; GDP; unemployment; potential output; natural rate of unemployment; OLS