Results 1 - 1 of 1 for recession [Author: Tatevik Sekhposyan]
Okun’s Law over the Business Cycle: Was the Great Recession All That Different? - Review
In 1962, Arthur Okun posited an empirical relationship between the change in the unemployment rate and real output growth. Since then, the media, policymakers, pundits, and intermediate macro students have used the so-called Okun’s law as a rule of thumb to relate changes in unemployment to changes in output growth.
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