Samstag, 26. Januar 2013

Okun's Law: Fit at 50?

Zusammen mit seinen Mitautoren stellt Prakash, ein Koautor von mir, auf voxeu eine Kurzfassung ihrer Studie "Okun's Law: Fit at 50?" vor.
"Will recovery be jobless? A broad array of analysts, from Vox columnists to McKinsey, are arguing that Okun’s Law is broken. This column presents new research suggesting that, in fact, Okun is alive and well. When output recovers, the jobs will come back, although employment will differ across countries. There may be good reasons for the structural reforms that many propose as a way to boost job creation, but undertaking them in the belief that Okun’s Law has broken down should not be one of them."
Die Studie ist Teil eines interessanten Projekts zu "Jobs and Growth", das in der Forschungsabteilung des IWF derzeit läuft.

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