Analiza związków produktu krajowego i bezrobocia wybranych krajów OECD w okresie globalnego kryzysu gospodarczego

• Authors: Piotr Maleszyk

Title variants

EN

The Analysis of Relationship Between Domestic Product and Unemployment in Selected OECD Countries in Times of Global Economic Crisis

• Languages of publication: PL

Abstracts

EN

The aim of this article is to present relationship between GDP fluctuations and changes in unemployment rate in the United States, the United Kingdom, France and the Netherlands in times of Global Financial Crisis against the long-term trends. Taking the Okun's Law as a starting point, the first part of the article describes the relationship between GDP and unemployment in developed economies, referring to historical developments and economic literature. The analysis conducted in empirical part proves, that GDP fluctuations in times of Global Economic Crisis exerted a greater influence on unemployment volatility than in periods of moderate or rapid economic growth. It is noticeable that the relative surge in unemployment in the US is considerably higher than in examined EU countries. It appears that the factors underlying the strength of relationship between GDP and unemployment rate in crisis are: the type of shock that caused the recession, the design of labour market institutions and discretionary policies adopted in times of crisis

Keywords

PL

Bezrobocie; Kryzys gospodarczy; Produkt krajowy brutto (PKB)

EN

Economic crisis; Gross domestic product (GDP); Unemployment

• Publisher: Uniwersytet Ekonomiczny w Katowicach
• Journal: Studia Ekonomiczne
• Year: 2014
• Volume: 166
• Pages: 31-42

Contributors

author

Piotr Maleszyk

References

• A. Okun, Potential GNP: Its Measurement and Significance, American Statistical Association, Proceedings of the Business and Economics Statistics Section 1962, s. 98-104.
• E. Kwiatkowski, Bezrobocie. Podstawy teoretyczne, WN PWN, Warszawa 2002, s. 99-120.
• R. Hall, J. Taylor, Makroekonomia, WN PWN, Warszawa 2007, s. 211.
• E. Groshen, S. Potter, Has Structural Change Contributed to a Jobless Recovery?, "Current Issues in Economics and Finance" 2003, No. 8, s. 1-7.
• D. Aaronson, E. Rissman, D. Sullivan, Assessing the Jobless Recovery. "Economic perspectives" 2004, No. 2, s. 2-20.
• E. Knotek, S. Terry, How Will Unemployment Fare Following the Recession?, "Economic Review" 2009, No. 3, s. 5-33.
• R. Ehrenberg, R. Smith, Modern Labor Economics: Theory and Public Policy, Prentice Hall 2009, s. 527.
• D. Lilien, R. Hall, Cyclical Fluctuations in the Labour Market, w: Handbook of Labour Economics vol. 2, ed. R. Layard, O. Ashenfelter, Elsevier 1987, s. 1001- -1011.
• O. Blanchard, European unemployment: the evolution of facts and ideas, "NBER Working Paper" 2005, No. 11750.
• E. Knotek, How useful is Okun's Law?, "Economic Review", Federal Reserve Bank of Kansas City 2007, No. 4, s. 73-103.
• M. Drozdowicz-Bieć, Cykle i wskaźniki koniunktury, Poltext, Warszawa 2012, s. 175-181.
• A. Lindbeck, Unemployment and Macroeconomics, The MIT Press, Cambridge- -London 1995, s. 75-117.
• O. Blanchard, D. Quah, The Dynamic Effects of Aggregate Demand and Supply Disturbances, "The American Economic Review" 1989, No. 4, s. 655-668.
• N. Adnett, European Labour Markets: analysis and policy, Longman, London-New York 1997, s. 202.
• R. Layard, S. Nickell, R. Jackman, Unemployment: Macroeconomic Performance and the Labour Market, Oxford University Press, New York 2005, s. xxvii.
• D. Lilien, R. Hall, op. cit., s. 1004-1007.
• E. Kryńska, E. Kwiatkowski, H. Zarychta, Polityka państwa na rynku pracy w Polsce w latach dziewięćdziesiątych, IPiSS, Warszawa 1998, s. 15-16.
• S. Nickell, Unemployment and Labor Market Rigidities: Europe versus North America, "Journal of Economic Perspectives" 1997, No. 3, s. 55-74.
• C. Reinhart., K. Rogoff, This Time is Different. Eight Centuries of Financial Folly, Princeton University Press, Princeton 2009, s. 224-230.
• N. Bloom, The impact of uncertainty shocks, "Econometrica" 2009, No. 3, s. 623-685.
• M. Daly, B. Hobijn, Okun's Law and the Unemployment Surprise of 2009, "FRBSF Economic Letters" 2010, http://www.frbsf.org/publications/economics/letter/2010/el2010-07.html.
• W. Eichhorst, V. Escudero, P. Marx, S. Tobin, The Impact of the Crisis on Employment and the Role of Labour Market Institutions, "IZA Discussion Papers" 2010, No. 5320, s. 30.

Identifiers

ISSN

2083-8611