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

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  • Albers, Scott
  • Albers, Andrew L.

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.

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Bibliographic Info

Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 44843.

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Date of creation: 07 Mar 2013
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Handle: RePEc:pra:mprapa:44843

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Related research

Keywords: Pi; Phi; Golden Mean; Okun's Law; United States economic history; GNP Spiral; Kondratiev Wave; Long Wave; trigonometric analysis;

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  1. Owyang, Michael T. & Sekhposyan, Tatevik, 2012. "Okun’s law over the business cycle: was the great recession all that different?," Review, Federal Reserve Bank of St. Louis, issue Sep, pages 399-418.
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