A flexible nonlinear inference to Okun's relationship

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Title:	A flexible nonlinear inference to Okun's relationship
Authors:	Huang, Ho-chuan;Lin, Shu-chin
Contributors:	淡江大學經濟學系
Date:	2006-04
Issue Date:	2009-11-30 18:37:41 (UTC+8)
Publisher:	Taylor & Francis
Abstract:	The study implements the flexible nonlinear inference approach of Hamilton (2001 Hamilton, ID. 2001. A parametric approach to flexible nonlinear inference. Econometrica, 69: 537–73. [CrossRef], [Web of Science ®] ) to assess the validity of Okun's law. Using US quarterly data from 1948:1 to 2004:2, overwhelming evidence is found of nonlinearity between cyclical components of unemployment and output. However, the relationship is still negative and provides strong support of (nonlinear) Okun's law.
Relation:	Applied Economics Letters 13(5), pp.325-331
DOI:	10.1080/13504850500398625
Appears in Collections:	[Graduate Institute & Department of Banking and Finance] Journal Article [Graduate Institute & Department of Economics] Journal Article

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