Okun’s Law in Austria

Michael Christl; Monika Köppl-Turyna; Dénes Kucsera

doi:10.1515/danb-2017-0007

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Okun’s Law in Austria

DANUBE

Volume 8 (2017): Issue 2 (June 2017)

By: Michael Christl, Monika Köppl-Turyna and Dénes Kucsera

Open Access

|Jul 2017

Abstract

We estimate the classic and the dynamic variant of Okun’s law for the Austrian labor market. We find that, for recent periods, the growth rate necessary to stabilize the unemployment rate equals 2.8 percent. Moreover, we find that the rate has been growing in recent quarters due to the increasing labor force size and the effects of the crisis. The latest prediction of the employment threshold lies above 3 percent, much above forecasted GDP growth up to 2017.

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Articles in this issue

DOI: https://doi.org/10.1515/danb-2017-0007 | Journal eISSN: 1804-8285 | Journal ISSN: 1804-6746

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Language: English

Page range: 97 - 110

Published on: Jul 13, 2017

Published by: European Research University

In partnership with: Paradigm Publishing Services

Publication frequency: 4 issues per year

Keywords:

Unemployment,

Growth,

Okun’s Law,

Austria

Related subjects:

Business and economics,

Law,

© 2017 Michael Christl, Monika Köppl-Turyna, Dénes Kucsera, published by European Research University
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.

Volume 8 (2017): Issue 2 (June 2017)