Fulfillment of Okun’s law in the city of Posadas, Misiones, Argentina, using static models
Keywords:
Okun's law; GGP; Growth; Unemployment; Static modelsAbstract
The objective of this paper is to measure the existent relationship between the growth of the (GEOGRAPHICAL GROSS PRODUCT) GGP of the Province of Misiones, Argentina, and the unemployment growth in the same Province. For that the relationship known as Okun’s Law is used, by means of which, the unemployment rate variations are considered in function of the variations in the Gross Product growth rate.The negative relationship is analyzed between Posadas’ unemployment and the growth of the provincial economy, in values consistent with different works done, be it in developed countries as those least developed ones. One establishes that the provincial economy is isolated from big interferences but originated outside the national economy such as the Tequila Effect. The performance during the Convertibility period was consistent with the effect of the economy reformations in the Argentine economy structure in terms of productivity gain.
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