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Okun's Law: Fit at 50?

This paper asks how well Okun's Law fits short-run unemployment movements in the United States since 1948 and in twenty advanced economies since 1980. We find that Okun's Law isa strong and stable relationship in most countries, one that did not change substantiallyduring the Great Recession.... Full description

1st Person: Ball, Laurence M.
Additional Persons: Leigh, Daniel; Loungani, Prakash
Type of Publication: Book
Published: Washington, D.C. International Monetary Fund 2013, 2013
Series: IMF Working Papers; Working Paper
Keywords: Spain
United States
Japan
Okun's Law
Unemployment Rate
Economic Fluctuations
Recession
Employment
Online: Volltext
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