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    請使用永久網址來引用或連結此文件: http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/120142

    題名: Endogeneity of Okun’s law
    作者: Huang, G.;Huang, H. C.;Liu, X. J.;Zhang, J.
    關鍵詞: Okun’s law;GDP growth;unemployment rate;oil price shocks
    日期: 2019-08-07
    上傳時間: 2021-03-11 12:11:29 (UTC+8)
    摘要: This article contributes to the literature of Okun’s law by addressing an under-noticed but important problem, i.e. endogeneity. By using annual variation in the international oil price weighted with countries’ average oil net-export GDP ratios as a plausibly exogenous instrumental variable for economic growth, the two-stage least squares estimates indicate that faster real GDP growth is associated with lower overall, male and female unemployment rates, confirming the validity of Okun’s law. According to our benchmark estimate, 1 percentage point increase in economic growth leads to a 0.252 percentage point decrease in civil unemployment rate.
    關聯: Applied Economics Letters 27(11), p.910-914
    DOI: 10.1080/13504851.2019.1646861
    顯示於類別:[財務金融學系暨研究所] 期刊論文


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