Table 3 Estimation of the long-run multiplier
From: Okun coefficients and participation coefficients by age and gender
Dep. variable Δu | Coeff. | Std. Error | p value |
|---|---|---|---|
Constant | 0.2725 | 0.0477 | 0 |
Δu(−1) | 0.2560 | 0.0810 | 0.0019 |
Δ g | −0.1144 | 0.0269 | 0 |
Δg(−1) | −0.1409 | 0.0279 | 0 |
Δg(−2) | −0.0455 | 0.0298 | 0.1291 |
Δg(−3) | −0.0577 | 0.0272 | 0.0356 |
Long-run multiplier | −0.4820 | ||
LM(4) | 5.0408 | 0.2831 | |
LM(12) | 13.8881 | 0.3079 |