Correction: Seip and Zhang (2022). A High-Resolution Lead-Lag Analysis of US GDP, Employment, and Unemployment 1977–2021: Okun’s Law and the Puzzle of Jobless Recovery. Economies 10: 260

Knut Lehre Seip; Dan Zhang

doi:10.3390/economies11030075

and

¹

Faculty of Technology Arts and Design, Oslo Metropolitan University, P.O. Box 4 St. Olavs Plass, Pilestredet Park 33, 0176 Oslo, Norway

²

Faculty of Social Sciences, Oslo Business School, Finance and Accounting, Oslo Metropolitan University, P.O. Box 4 St. Olavs Plass, Pilestredet Park 33, 0176 Oslo, Norway

^*

Author to whom correspondence should be addressed.

Economies2023, 11(3), 75;https://doi.org/10.3390/economies11030075

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The authors would like to make the following correction to the published paper (Seip and Zhang 2022).

In Figure 2, e and f were duplicates. The correct Figure 2 is presented below:

Figure 2. Lead-lag relations between GDP, employment (EM), and unemployment, (UE). (a) GDP and EM, both LOESS(0.1) smoothed. Drop lines show NBER recession. (b) LL relations between GDP and EM, both LOESS(0.1) smoothed (gray) and both raw, unsmoothed (dark gray). Numbers show percentage “pseudo significant” LL relations (see text). Drop-lines show the beginning of recessions. OLR between gray and black bars give R = 0.30, p < 0.001. (c) GDP-LOESS (0.8) residual and UE (%) both series LOESS(0.1) smoothed. (d) LL(GDP LOESS (0.8) residual, UE), both series LOESS(0.1) smoothed and normalized to unit standard deviation. Red horizontal lines show recession periods. Droplines show beginning of recessions. (e) Phase plot for GDP and EM, not detrended, 1989-1993M4, dropline show the beginning of the 1990 recession. (f) Same as (e), but with GDP and UE.

The authors confirm that the scientific conclusions are unaffected. The original publication has also been updated.

Reference

Seip, Knut Lehre, and Dan Zhang. 2022. A High-Resolution Lead-Lag Analysis of US GDP, Employment, and Unemployment 1977–2021: Okun’s Law and the Puzzle of Jobless Recovery. Economies 10: 260. [Google Scholar] [CrossRef]

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© 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/).

Correction: Seip and Zhang (2022). A High-Resolution Lead-Lag Analysis of US GDP, Employment, and Unemployment 1977–2021: Okun’s Law and the Puzzle of Jobless Recovery. Economies 10: 260

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