E2 - Macroeconomics: Consumption, Saving, Production, Employment, and Investment
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Time Variation in Okun's Law: A Canada and U.S. Comparison
This article investigates the stability of Okun's law for Canada and the United States using a time varying parameter approach. Time variation is modeled as driftless random walks and is estimated using the median unbiased estimator approach developed by Stock and Watson (1998).