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OKUN'S LAW COEFFICIENT ESTIMATES FOR THE 50 UNITED STATES AND POSSIBLE LABOR MARKET AND IDEOLOGICAL DETERMINANTS OF COEF...

Permanent Link: http://ncf.sobek.ufl.edu/NCFE004831/00001

Material Information

Title: OKUN'S LAW COEFFICIENT ESTIMATES FOR THE 50 UNITED STATES AND POSSIBLE LABOR MARKET AND IDEOLOGICAL DETERMINANTS OF COEFFICIENT VARIATION
Physical Description: Book
Language: English
Creator: Morton, Jacob
Publisher: New College of Florida
Place of Publication: Sarasota, Fla.
Creation Date: 2013
Publication Date: 2013

Subjects

Subjects / Keywords: Unemployment
Econometrics
U.S. State Economies
Genre: bibliography   ( marcgt )
theses   ( marcgt )
government publication (state, provincial, terriorial, dependent)   ( marcgt )
born-digital   ( sobekcm )
Electronic Thesis or Dissertation

Notes

Abstract: The purpose of this paper is to estimate Okun's law coefficients for all 50 U.S. states over the period 1976-2010. Using the "gap" model and two separate detrending techniques, the Baxter-King and Hodrick-Prescott filters, the results show that Okun's law holds for each of the 50 states and the nation as a whole. Further, the paper cross-examines the ten Okun's coefficients with two labor market variables and one political-ideological variable — (1) "right to work" status as a proxy for unionization rates and the "disposable worker hypothesis," (2) the relative size of states' manufacturing sectors, and (3) the ideological orientation of state governments. The paper's core findings are that Okun's law holds at the state level and that the average state-level Okun's law coefficient is approximately between 2 and 2.5, depending on the detrending technique used. The paper finds weak evidence for inter-regional variation Further, there is only minimal evidence for correlations between Okun's law and a state's right-to-work status or the size of its manufacturing sector relative to its GSP. Finally, there is little evidence that Okun's law is related to the ideological orientation of state governments. The results are broadly consistent with the findings of Donald G. Freeman's regional analysis (2001), but broadly contrast with the 26 state-level tests conducted by Paul R. Blackley (1991).
Statement of Responsibility: by Jacob Morton
Thesis: Thesis (B.A.) -- New College of Florida, 2013
Electronic Access: RESTRICTED TO NCF STUDENTS, STAFF, FACULTY, AND ON-CAMPUS USE
Bibliography: Includes bibliographical references.
Source of Description: This bibliographic record is available under the Creative Commons CC0 public domain dedication. The New College of Florida Libraries, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.
Local: Faculty Sponsor: Khemraj, Tarron

Record Information

Source Institution: New College of Florida
Holding Location: New College of Florida
Rights Management: Applicable rights reserved.
Classification: local - S.T. 2013 M89
System ID: NCFE004831:00001

Permanent Link: http://ncf.sobek.ufl.edu/NCFE004831/00001

Material Information

Title: OKUN'S LAW COEFFICIENT ESTIMATES FOR THE 50 UNITED STATES AND POSSIBLE LABOR MARKET AND IDEOLOGICAL DETERMINANTS OF COEFFICIENT VARIATION
Physical Description: Book
Language: English
Creator: Morton, Jacob
Publisher: New College of Florida
Place of Publication: Sarasota, Fla.
Creation Date: 2013
Publication Date: 2013

Subjects

Subjects / Keywords: Unemployment
Econometrics
U.S. State Economies
Genre: bibliography   ( marcgt )
theses   ( marcgt )
government publication (state, provincial, terriorial, dependent)   ( marcgt )
born-digital   ( sobekcm )
Electronic Thesis or Dissertation

Notes

Abstract: The purpose of this paper is to estimate Okun's law coefficients for all 50 U.S. states over the period 1976-2010. Using the "gap" model and two separate detrending techniques, the Baxter-King and Hodrick-Prescott filters, the results show that Okun's law holds for each of the 50 states and the nation as a whole. Further, the paper cross-examines the ten Okun's coefficients with two labor market variables and one political-ideological variable — (1) "right to work" status as a proxy for unionization rates and the "disposable worker hypothesis," (2) the relative size of states' manufacturing sectors, and (3) the ideological orientation of state governments. The paper's core findings are that Okun's law holds at the state level and that the average state-level Okun's law coefficient is approximately between 2 and 2.5, depending on the detrending technique used. The paper finds weak evidence for inter-regional variation Further, there is only minimal evidence for correlations between Okun's law and a state's right-to-work status or the size of its manufacturing sector relative to its GSP. Finally, there is little evidence that Okun's law is related to the ideological orientation of state governments. The results are broadly consistent with the findings of Donald G. Freeman's regional analysis (2001), but broadly contrast with the 26 state-level tests conducted by Paul R. Blackley (1991).
Statement of Responsibility: by Jacob Morton
Thesis: Thesis (B.A.) -- New College of Florida, 2013
Electronic Access: RESTRICTED TO NCF STUDENTS, STAFF, FACULTY, AND ON-CAMPUS USE
Bibliography: Includes bibliographical references.
Source of Description: This bibliographic record is available under the Creative Commons CC0 public domain dedication. The New College of Florida Libraries, as creator of this bibliographic record, has waived all rights to it worldwide under copyright law, including all related and neighboring rights, to the extent allowed by law.
Local: Faculty Sponsor: Khemraj, Tarron

Record Information

Source Institution: New College of Florida
Holding Location: New College of Florida
Rights Management: Applicable rights reserved.
Classification: local - S.T. 2013 M89
System ID: NCFE004831:00001


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