Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018

The sensitivity of unemployment to economic activity in the Mexican States (from the beginning of 2004 to the first half of 2018) was evaluated on the basis of Okun’s law (1983) as it relates to growth rates. To capture the heterogeneity of the 32 States, the results of individual regressions were c...

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Autores principales: Loría, Eduardo, Rojas, Susana, Martínez, Eduardo
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Lenguaje:English
Publicado: 2021
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Acceso en línea:https://hdl.handle.net/11362/47526
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spelling oai-11362-475262021-12-06T18:34:36Z Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018 Loría, Eduardo Rojas, Susana Martínez, Eduardo CRECIMIENTO ECONOMICO DESEMPLEO CEPAL DESARROLLO REGIONAL DESARROLLO LOCAL MERCADO DE TRABAJO CREACION DE EMPLEOS AJUSTE ESTRUCTURAL MODELOS ECONOMETRICOS ECONOMIC GROWTH UNEMPLOYMENT ECLAC REGIONAL DEVELOPMENT LOCAL DEVELOPMENT LABOUR MARKET EMPLOYMENT CREATION STRUCTURAL ADJUSTMENT ECONOMETRIC MODELS The sensitivity of unemployment to economic activity in the Mexican States (from the beginning of 2004 to the first half of 2018) was evaluated on the basis of Okun’s law (1983) as it relates to growth rates. To capture the heterogeneity of the 32 States, the results of individual regressions were compared with fixed effects panel data estimates. The Okun coefficient is significant and possesses the correct sign in 22 States, reflecting a variation between -7.21 and -1.25. The remaining 10 States (with the incorrect sign and an insignificant coefficient) are characterized by poor economic, social and institutional performances. The great recession brought about structural changes in 15 of the 22 States where Okun’s law is valid throughout the period. Moreover, in these 22 States, the Rule of Law Index and the rate of critical employment conditions determine the sensitivity of unemployment growth to output growth. 2021-12-02T10:40:57Z 2021-12-02T10:40:57Z 2021-08-31 Texto Sección o Parte de un Documento https://hdl.handle.net/11362/47526 LC/PUB.2021/13-P 7 en CEPAL Review CEPAL Review 134 .pdf application/pdf MEXICO MEXICO
institution Cepal
collection Cepal
language English
topic CRECIMIENTO ECONOMICO
DESEMPLEO
CEPAL
DESARROLLO REGIONAL
DESARROLLO LOCAL
MERCADO DE TRABAJO
CREACION DE EMPLEOS
AJUSTE ESTRUCTURAL
MODELOS ECONOMETRICOS
ECONOMIC GROWTH
UNEMPLOYMENT
ECLAC
REGIONAL DEVELOPMENT
LOCAL DEVELOPMENT
LABOUR MARKET
EMPLOYMENT CREATION
STRUCTURAL ADJUSTMENT
ECONOMETRIC MODELS
spellingShingle CRECIMIENTO ECONOMICO
DESEMPLEO
CEPAL
DESARROLLO REGIONAL
DESARROLLO LOCAL
MERCADO DE TRABAJO
CREACION DE EMPLEOS
AJUSTE ESTRUCTURAL
MODELOS ECONOMETRICOS
ECONOMIC GROWTH
UNEMPLOYMENT
ECLAC
REGIONAL DEVELOPMENT
LOCAL DEVELOPMENT
LABOUR MARKET
EMPLOYMENT CREATION
STRUCTURAL ADJUSTMENT
ECONOMETRIC MODELS
Loría, Eduardo
Rojas, Susana
Martínez, Eduardo
Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018
description The sensitivity of unemployment to economic activity in the Mexican States (from the beginning of 2004 to the first half of 2018) was evaluated on the basis of Okun’s law (1983) as it relates to growth rates. To capture the heterogeneity of the 32 States, the results of individual regressions were compared with fixed effects panel data estimates. The Okun coefficient is significant and possesses the correct sign in 22 States, reflecting a variation between -7.21 and -1.25. The remaining 10 States (with the incorrect sign and an insignificant coefficient) are characterized by poor economic, social and institutional performances. The great recession brought about structural changes in 15 of the 22 States where Okun’s law is valid throughout the period. Moreover, in these 22 States, the Rule of Law Index and the rate of critical employment conditions determine the sensitivity of unemployment growth to output growth.
format Texto
author Loría, Eduardo
Rojas, Susana
Martínez, Eduardo
author_facet Loría, Eduardo
Rojas, Susana
Martínez, Eduardo
author_sort Loría, Eduardo
title Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018
title_short Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018
title_full Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018
title_fullStr Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018
title_full_unstemmed Okun’s law in Mexico: an analysis of heterogeneity among States, 2004–2018
title_sort okun’s law in mexico: an analysis of heterogeneity among states, 2004–2018
publishDate 2021
url https://hdl.handle.net/11362/47526
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AT rojassusana okunslawinmexicoananalysisofheterogeneityamongstates20042018
AT martinezeduardo okunslawinmexicoananalysisofheterogeneityamongstates20042018
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