Table 5 Okun equation with logistically changing coefficients, 1991/Q1–2021/Q4
From: A monthly leading indicator of Swiss GDP growth based on Okun’s law
Parameter / Statistics | α | β | γ1 | γ2 | R2 | SE | DW |
|---|---|---|---|---|---|---|---|
Quarter-to-quarter | 0.49 | − 2.74 | − 0.12 | 27.0 | 0.36 | 0.85 | 2.59 |
(Newey-West t-values) | (7.37) | (− 3.51) | (− 2.25) | (5.41) | |||
Year-to-year | 1.93 | − 2.12 | − 0.12 | 24.8 | 0.74 | 1.02 | 0.70 |
(Newey-West t-values) | (10.80) | (− 9.70) | (− 2.52) | (8.35) |