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  • Nonlinear co-integration between unemployment and economic growth in South Africa [Elektronski vir]
    Phiri, Andrew
    In this paper, a momentum threshold autoregressive (MTAR) model is used to evaluate nonlinear equilibrium reversion between unemployment and economic growth for South African data between the periods ... 2000-2013. To attain this objective we estimate the first-difference and the gap model variations of Okun's specification. For the latter model variation, we employ three de-trending methods to obtain the relevant "gap" data; namely, the Hodrick-Prescott (HP) filter, the Baxter-King (BK) filter and the Butterworth (BW) digital filter. A common finding from our empirical analysis is that Okun's law holds concretely for South African data regardless of the model specification or the de-trending technique that is used. Moreover, our analysis proves that unemployment granger causes economic growth in the long-run, a result which may account for the jobless-growth phenomenon experienced by South Africa over the last decade or so.
    Vir: Managing global transitions [Elektronski vir] : international research journal. - ISSN 1854-6935 (Vol. 12, no. 4, Winter 2014, str. 303-324, 415)
    Vrsta gradiva - e-članek ; neleposlovje za odrasle
    Leto - 2014
    Jezik - angleški
    COBISS.SI-ID - 1537126852

    Povezava(-e):

    http://www.fm-kp.si/zalozba/ISSN/1581-6311/12_303-324.pdf
    Digitalna knjižnica Slovenije - dLib.si

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