Does “Okun’s Law” state a Pi:1 ratio? Toward a harmonic interpretation of why Okun’s Law works

Scott Albers and Andrew L. Albers

MPRA Paper from University Library of Munich, Germany

Abstract: In Albers & Albers (Spring, 2013) we demonstrated that the historic development of U.S. real GNP, 1869-present, may be structured in recurring 14-year periods. A steady-state rate of growth of 3.4969% is thereby calculated, generating an increase in real GNP proportional to the famous “Golden Mean” (1:phi or 1:1.6180) every fourteen years on average. Building on this foundation we show herein that “Okun’s Law,” a 3:1 proportion between percent growth in real GNP and percent decrease in the rate of unemployment, is actually a pi:1 proportion, created through a form of mathematic / harmonic inverse. The resulting model of economics in the United States is thereby aligned with geometric, harmonic and trigonometric analysis, rather than purely statistical methods.

Keywords: Pi; Phi; Golden Mean; Okun's Law; United States economic history; GNP Spiral; Kondratiev Wave; Long Wave; trigonometric analysis (search for similar items in EconPapers)
JEL-codes: A10 A12 A13 B0 B00 B4 B40 B50 B59 C0 C00 C01 C02 C1 C19 C5 C50 C51 C53 D0 D01 D03 E0 E00 E1 E10 E13 E19 E3 E32 P1 P10 P16 Z0 Z00 (search for similar items in EconPapers)
Date: 2013-03-07
New Economics Papers: this item is included in nep-his
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