[automatically translated] Okun's law consists of an empirical relationship between changes in the unemployment rate to changes in real GDP growth rates. The interest addressed by the economic literature against this report is derived from its implications in terms of macroeconomic policies. Many studies have verified this relation in different spatio-temporal contexts. This has led to some variation of the estimated coefficient, both in relation to the different time horizons, that varying the reference spatial context. In addition, especially the more recent work has focused on the presence of asymmetric components in the report. The goal of this analysis is to test the validity of Okun's law in Italy at national sub-level, simultaneously evaluating the effects of the asymmetric component. At the basis of this assessment lies, in fact, it suggested that in Italy are present some of the aspects that the same Okun pointed out as likely causes a change of the results obtained from the estimates and above all that diversity, typical of the two sub-national labor markets , can lead to significantly different estimates for the Centre-North and the South.
|Number of pages||27|
|Journal||Working Paper dell'università politecnica delle Marche|
|Publication status||Published - 2008|