Test of Okun’s Law in Albania During the Period 1995-2010

• • 
  • Presentation speakers
    • Dritan Shoraj, Faculty of Economy, University of Tirana, Albania
    • Fejzi Kolaneci, University of New York in Tirana, Albania
  • Download presentation
    • Dritan Shoraj and Fejzi Kolaneci Test of Okun s Law in Albania during the period 1995-2010.pdf

  Abstract:
  The main objective if the study is to test the validity of Okun’s law during the period 1995-2010 in Albania and to find a confidence interval for Okun’s coefficient. When the annual real GDP growth and annual unemployment rates are estimated for Albanian economy over the specified period, it is found that one percent reduction in the annual unemployment rate would produce approximately 1.54% increase in the annual real GDP. The absolute value of Okun’s coefficient for Albania is lower to those estimated by some authors for other countries. The coefficient of correlation between successive differences in annual unemployment rates and successive differences in annual GDP is -35%. The 95% confidence interval for Okun’s coefficient is (-4.012;0.926).

 

Related Presentations

 

Staging Multiple Identities: The Temporary Facade at Palazzo Farnese for Queen Christina of Sweden

• Margaret Kuntz

The Eurozone Crisis: Transformative Impact on the European Project and Model(s) of Capitalism

• Davide Bradanini

Raising Funds At All Costs? Contemplating the Campaign Strategies of Humanitarian Organizations

• Gada Mahrouse

A Symbolic Ethnography of Hope in the Era of Hyper-Consumption: Uncovering Love as a Nordic -Transylvanian Synthesis through Bureaucratic Sublimation

• Ioana Ionesco
• Tor Torsson

Diagnostics of Our Times: Where Is the 21st Century Heading? World Economy And Society on the Road Towards Megacapitalism

• Dragoljub Stojanov

Material Antagonisms; Melancholia, Undeadliness and Performance

• Simon Clark