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20 Using the World Bank or the IMF database, download data on unemployment rate and GDP growth for three countriesan emerging, a developing, and an

20

Using the World Bank or the IMF database, download data on unemployment rate and GDP growth for three countriesan emerging, a developing, and an advanced economyof your choice. You should download the data for the maximum period for which they are available. MEDIUM a) Examine the existence of Okun's Law for the three countries. Hint: Look at the Focus Box on page 198 and Figure 1 on page 199. b) Examine the dynamics of unemployment during recession(s). Is the unemployment rate higher during the year(s) of declining output or the year(s) after? Creating graphs similar to Figure 7-3 on page 157 could be helpful for this analysis.

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