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<p>This study investigates the dynamic version of Okun’s law across G20 nations, focusing on European, North American, and Asian countries. The objective is to determine whether Okun’s law holds in these nations and, if so, to what extent it influences their economic landscapes. Using annual data on real GDP and unemployment rates from 2000 to 2022, we employed the ARDL model to estimate long-term relationships and HP, BK, and quadratic trend filters, are used to identify GDP trends and natural unemployment rates. The findings confirm the validity of Okun’s law across a diverse set of G20 nations including, Argentina, Brazil, Australia, Germany, France, India, Japan, Indonesia, Republic of Korea, Mexico, Saudi Arabia, Russian Federation, South Africa, Turkey, and the United States of America. This affirmation reflects the coexistence of structural and frictional unemployment, though cyclical factors remain more dominant in explaining variations in unemployment. Our study lightens the intricate relationship between GDP growth and job creation in diverse G-20 nations. Emphasizing government regulations in labour markets aids economic recovery, mitigating unemployment rate differences, and offers policymakers a pathway to address economic disparities and foster employment opportunities.</p>

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Is Phenomenon of Jobless Growth Enduring in G20 Nations? A Study using ARDL and Okun’s Law Coefficients

  • 期刊论文

  • 发表日期：

    2026年3月19日

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  • Divya Bhalla,
  • Amandeep Verma

摘要

This study investigates the dynamic version of Okun’s law across G20 nations, focusing on European, North American, and Asian countries. The objective is to determine whether Okun’s law holds in these nations and, if so, to what extent it influences their economic landscapes. Using annual data on real GDP and unemployment rates from 2000 to 2022, we employed the ARDL model to estimate long-term relationships and HP, BK, and quadratic trend filters, are used to identify GDP trends and natural unemployment rates. The findings confirm the validity of Okun’s law across a diverse set of G20 nations including, Argentina, Brazil, Australia, Germany, France, India, Japan, Indonesia, Republic of Korea, Mexico, Saudi Arabia, Russian Federation, South Africa, Turkey, and the United States of America. This affirmation reflects the coexistence of structural and frictional unemployment, though cyclical factors remain more dominant in explaining variations in unemployment. Our study lightens the intricate relationship between GDP growth and job creation in diverse G-20 nations. Emphasizing government regulations in labour markets aids economic recovery, mitigating unemployment rate differences, and offers policymakers a pathway to address economic disparities and foster employment opportunities.