An unstable Okun’s Law, not the best rule of thumb

Okun’s law is a statistical relationship between unemployment and GDP that is widely used as a rule of thumb for assessing the unemployment rate—why it might be at a certain level or where it might be headed, for example. Unfortunately, the Okun’s law relationship is not stable over time, which makes it potentially misleading as a rule of thumb.

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Year of publication:	2012
Authors:	Meyer, Brent ; Tasci, Murat
Published in:	Economic Commentary. - Federal Reserve Bank of Cleveland. - 2012, Jun 7, 2012-8
Publisher:	Federal Reserve Bank of Cleveland
Subject:	Gross domestic product \| Unemployment

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Extent:	application/pdf
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010558731