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Output and unemployment: how do they relate today?

Author

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  • Michael T. Owyang
  • Tatevik Sekhposyan
  • E. Katarina Vermann

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.

Suggested Citation

  • Michael T. Owyang & Tatevik Sekhposyan & E. Katarina Vermann, 2013. "Output and unemployment: how do they relate today?," The Regional Economist, Federal Reserve Bank of St. Louis, issue October.
    • Handle: RePEc:fip:fedlre:y:2013:i:october
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    Citations

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    Cited by:

    1. Manuel Gonzalez-Astudillo, 2017. "GDP Trend-cycle Decompositions Using State-level Data," Finance and Economics Discussion Series 2017-051, Board of Governors of the Federal Reserve System (U.S.).
    2. Ugyen Tenzin, 2019. "The Nexus Among Economic Growth, Inflation and Unemployment in Bhutan," South Asia Economic Journal, Institute of Policy Studies of Sri Lanka, vol. 20(1), pages 94-105, March.
    3. Samuel Huber & Jaehong Kim & Alessandro Marchesiani, 2019. "Unemployment and the demand for money," ECON - Working Papers 324, Department of Economics - University of Zurich.

    More about this item

    Keywords

    Unemployment;

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