Okun's Coefficient: A Comment

Clifford L. F. Attfield and Brian Silverstone

The Review of Economics and Statistics, 1997, vol. 79, issue 2, 326-329

Abstract: This paper reassesses a finding by Martin Prachowny (1993) that the value of the Okun coefficient for the United States (linking unemployment changes to output changes) is only around -0.67 rather than around the more typical value of -2.25. Using a cointegration framework, and the same data sets as Prachowny, we find, for one of the data sets, that the Okun coefficient is much closer to a value of -2.25, which supports previous research work. © 1997 by the President and Fellows of Harvard College and the Massachusetts Institute of Technology

Date: 1997
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