Output and unemployment: how do they relate today?

Michael Owyang, Tatevik Sekhposyan and E. Katarina Vermann

The Regional Economist, 2013, issue October

Abstract: Fifty years ago, Arthur Okun examined the relationship between output growth and the unemployment rate. The empirical relationship of the resulting ?Okun?s law? has remained largely intact since then, including during the Great Recession. However, while the law does fit our intuition about economic relationships, it should not necessarily be taken to be causal.

Keywords: Unemployment (search for similar items in EconPapers)
Date: 2013
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