Journal Article

Okun's law revisited: should we worry about low unemployment?


Abstract: A review of the connection between labor resource utilization and the growth/unemployment correlation summarized by Okun's law, showing that the instability of that relationship, particularly over short time horizons, has important implications for monetary policy.

Keywords: Inflation (Finance); Monetary policy; Unemployment;

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 1997

Issue: May

Order Number: 2