Do FOMC members believe in Okun's Law?

Peter Tillmann

Economics Bulletin, 2010, vol. 30, issue 3, 2398-2404

Abstract: This paper uses data on forecasts for unemployment and GDP growth submitted by each individual FOMC member to uncover members' beliefs about Okuns's Law. The results suggest that the perceived relationship between unemployment and real growth weakened significantly since the mid-1990s.

Keywords: GDP forecast; unemployment forecast; Okun's Law; Federal Reserve (search for similar items in EconPapers)
JEL-codes: E3 E5 (search for similar items in EconPapers)
Date: 2010-09-16
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Citations: View citations in EconPapers (8)

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