Diferencias regionales en la relación de Okunnueva evidencia para España (1980-2015)

  1. Bande Ramudo, Roberto 1
  2. Martín Román, Ángel 2
  1. 1 Universidade de Santiago de Compostela
    info

    Universidade de Santiago de Compostela

    Santiago de Compostela, España

    ROR https://ror.org/030eybx10

  2. 2 Universidad de Valladolid
    info

    Universidad de Valladolid

    Valladolid, España

    ROR https://ror.org/01fvbaw18

Journal:
Investigaciones Regionales = Journal of Regional Research

ISSN: 1695-7253,  2340-2717

Year of publication: 2018

Issue: 41

Pages: 137-165

Type: Article

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More publications in: Investigaciones Regionales = Journal of Regional Research

Abstract

This article provides new empirical evidence on the relationship between the unemployment rate and the output growth in Spain at the regional level. The «gap version» with the output growth on the left-hand side of the equation is our benchmark model. Our empirical results show that all coefficients are significant and show the expected negative sign. Significant regional differences in the Okun’s relationship, both for the short run and the long run, are found. These results are robust to two different specifications for the gaps: the HP filter and the QT procedure. In the final part of the article, it is also found that the OLS and the GMM estimates for panel data exhibit a similar pattern and that there is a clear asymmetry in the Okun’s relationship in booming and recession phases of the Spanish business cycle.

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Funding information

The first author acknowledges financial support from Xunta de Galicia, Grant ED431C 2017/44. The second author was partially supported by the Spanish Ministry of Economy and Competitiveness under project ECO2017-82227-P.

Funders

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