19
Again, the average does not reflect the variations during the sample period (Figure 6.3).
In half of the years of the sample period the Okun relation is practically suspended.
However, the spatial SUR estimate of the implied unemployment threshold of 2.2% for
the entire sample period proves to be highly significant. It is broadly in line the finding
of Schalk and Untiedt (2000) who established a decline of the unemployment threshold
by 2 percentage since the 70s. On the contrary, Walwei’s (2002) estimate lies close to
the non-spatial GLS threshold of 4.0% that seems to be overrated as spatial effects are
not controlled for.
Figure 6.3: Okun’s law: scatterplots with regression lines
DALQ93 vs. WBIP93 DALQ94 vs. WBIP94 DALQ95 vs. WBIP95
0.06
0.04.
0.02-
0.00-
0.1
0.2
-0.02
-0.1
0.02
-0.06
-0.05
0.00-
-0.04-
-0.02-
0.00 0.05 0.10
0.02
0.00-
-0.02-
-0.04-
-0.2 -0.1 0.0 0.1 0.2
0.15
WBIP93 WBIP94 WBIP95
0.0
WBIP96 WBIP97 WBIP98
WBIP99 WBIP00
More intriguing information
1. HEDONIC PRICES IN THE MALTING BARLEY MARKET2. Party Groups and Policy Positions in the European Parliament
3. The Distribution of Income of Self-employed, Entrepreneurs and Professions as Revealed from Micro Income Tax Statistics in Germany
4. The name is absent
5. The name is absent
6. The name is absent
7. School Effectiveness in Developing Countries - A Summary of the Research Evidence
8. The name is absent
9. The name is absent
10. DEVELOPING COLLABORATION IN RURAL POLICY: LESSONS FROM A STATE RURAL DEVELOPMENT COUNCIL