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- Title
Do gender and age impact the time‐varying Okun's law? Evidence from South Korea.
- Authors
Kim, Myeong Jun; Park, Sung Y.
- Abstract
This study investigates the time‐varying Okun's law for different age and gender cohorts in South Korea over the 1980–2014 period. We found that the absolute value of the estimated Okun coefficients for all age cohorts and both genders become larger in a recession than in an expansion. We also found that the youth cohort (15–24 years old) for both genders is more sensitive to a negative economic impact than are older cohorts. These differences imply that when policymakers try to find a way of reducing the unemployment rate, they should consider differences in behaviour among these groups. Furthermore, the policies should be combined with age‐specific policies.
- Subjects
SOUTH Korea; ABSOLUTE value; UNEMPLOYMENT statistics; ECONOMIC impact; AGE
- Publication
Pacific Economic Review, 2019, Vol 24, Issue 5, p672
- ISSN
1361-374X
- Publication type
Article
- DOI
10.1111/1468-0106.12288