Journal Article
An unstable Okun’s Law, not the best rule of thumb
Abstract: Okun?s law is a statistical relationship between unemployment and GDP that is widely used as a rule of thumb for assessing the unemployment rate?why it might be at a certain level or where it might be headed, for example. Unfortunately, the Okun?s law relationship is not stable over time, which makes it potentially misleading as a rule of thumb.
Keywords: Unemployment; Gross domestic product;
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https://doi.org/10.26509/frbc-ec-201208
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2012
Issue: June
Order Number: 8