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Economics for Policymaking: Selected Essays of Arthur M. Okun


  • Joseph A. Pechman
    (Brookings Institution)


  • Arthur M. Okun

    (Brookings Institution)


Arthur Okun - teacher at Yale in the 1950s, member and later Chairman of the President's Council of Economic Advisors in the 1960s, and Fellow of the Brookings Institution throughout the 1970s - was one of the three or four most important macroeconomists of the past twenty years. He was perhaps unique in having the respect and admiration of both academic economists and practical politicians. Okun was an effective mediator between the realms of economic theory and analysis and the making and implementation of public policy. These thirty-one essays, whether they first appeared in the American Economic Review or in the New York Times Magazine, are all marked by a lucid and readable style of writing and by a willingness to grapple with real economic, social, and political problems. They are grouped under eight headings: Inflation: Causes and Cures; Implicit Contracts; Output, Employment, and Unemployment; Fiscal and Monetary Policy; Economic Performance, 1960-1980; Economic Forecasting; Economic Policy Formulation; and Equality and Efficiency.

Suggested Citation

  • Arthur M. Okun, 1983. "Economics for Policymaking: Selected Essays of Arthur M. Okun," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262650584 edited by Joseph A. Pechman, January.
  • Handle: RePEc:mtp:titles:0262650584

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    References listed on IDEAS

    1. Van Wijnbergen, Sweden, 1986. "On fiscal deficits, the real exchange rate and the world rate of interest," European Economic Review, Elsevier, vol. 30(5), pages 1013-1023, October.
    2. Tabellini, Guido & Alesina, Alberto, 1990. "Voting on the Budget Deficit," American Economic Review, American Economic Association, vol. 80(1), pages 37-49, March.
    3. Tobin, James, 1969. "A General Equilibrium Approach to Monetary Theory," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 1(1), pages 15-29, February.
    4. Sutherland, Alan, 1997. "Fiscal crises and aggregate demand: can high public debt reverse the effects of fiscal policy?," Journal of Public Economics, Elsevier, vol. 65(2), pages 147-162, August.
    5. Menahem E. Yaari, 1965. "Uncertain Lifetime, Life Insurance, and the Theory of the Consumer," Review of Economic Studies, Oxford University Press, vol. 32(2), pages 137-150.
    6. Robert Summers & Alan Heston, 1991. "The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950–1988," The Quarterly Journal of Economics, Oxford University Press, vol. 106(2), pages 327-368.
    7. Uzawa, H, 1969. "Time Preference and the Penrose Effect in a Two-Class Model of Economic Growth," Journal of Political Economy, University of Chicago Press, vol. 77(4), pages 628-652, Part II, .
    8. van Wijnbergen, Sweder, 1987. "Tariffs, Employment and the Current Account: Real Wage Resistance and the Macroeconomics of Protectionism," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 28(3), pages 691-706, October.
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    Cited by:

    1. ., 2013. "Past, Present and Future Economic Growth in Latin America," Chapters,in: World Economic Performance, chapter 10, pages 268-289 Edward Elgar Publishing.

    More about this item


    Arthur Orkun; economic theory; public policy;

    JEL classification:

    • A31 - General Economics and Teaching - - Multisubject Collective Works - - - Multisubject Collected Writings of Individuals
    • B31 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - Individuals
    • E0 - Macroeconomics and Monetary Economics - - General


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