Please use this identifier to cite or link to this item:
Title: Does Okun's law hold? : a comparative study between Malta and other selected EU countries
Authors: Grima, Marianne
Keywords: Unemployment -- Malta -- Econometric models
Unemployment -- European Union countries -- Econometric models
Financial crises
Labor market
Issue Date: 2013
Abstract: This dissertation aims to investigate whether the unemployment-output relationship underlined by Okun's Law holds for Malta and other selected EU countries. By estimating different specifications of Okun's Law over the period between 2000 and 2012, this study specifically focuses on analysing any movements that the relationship might have been subject to in the aftermaths of the 2008 financial crisis and the ongoing European sovereign debt crisis. The main conclusion of this study is that while Okun's law is statistically valid for all countries within this study; its magnitude has varied across countries and over time. This latter variation is attributed to both movements over the stages of the business cycle and developments in country-specific labour market features. Specifically, in the case of Malta, evidence founded shows that the responsiveness of unemployment to output has increased significantly in recent years and, in particular, appears to be stronger during recessionary periods.
Appears in Collections:Dissertations - FacEma - 2013
Dissertations - FacEMAEco - 2013

Files in This Item:
File Description SizeFormat 
  Restricted Access
2.15 MBAdobe PDFView/Open Request a copy

Items in OAR@UM are protected by copyright, with all rights reserved, unless otherwise indicated.