Factores que afectan la validez de la ley de okun. una aplicación de datos de panel para el periodo 1980-2019.

Abstract

The present study empirically analyzes the relationship between the growth of aggregate output and the unemployment rate, known as "Okun's Law". For this, a multiple linear regression model applied to panel data for a group of countries in the period 1980 – 2019, which captures the statistical significance of the independent variables, as well as its impact on the dependent variable. The model specification includes factors that may influence the validity of Okun's Law, among these, income level, geographical location and economic crises. The results obtained from the proposed specification, indicate that an inverse relationship between production growth and unemployment is evident, thus empirically validating Okun's Law.