A Nonlinear Relationship: Unemployment and Economic Growth (Construction Sector) in Spain, 1995.1–2012.2
Por:
Loría E., Salas E.
Publicada:
1 ene 2014
Resumen:
A quadratic version of the first-difference Okun’s Law model was estimated for Spain (1995.Q1-2012.Q2). An accelerationist version of Okun’s Law was obtained, which allowed us to calculate variable Okun coefficients as well as critical points in the relationship between construction sector growth and the variation in overall unemployment. The optimal economic growth rate was determined to be 7.38 %. By applying principal components, it is demonstrated that this sector led the economic process after 1995. © 2014, International Atlantic Economic Society.
Filiaciones:
Loría E.:
National Autonomous University of Mexico, Mexico, Mexico
Salas E.:
National Autonomous University of Mexico, Mexico, Mexico
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