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Diane Publishing Books
How Useful Is Okun’s Law?: A Reprint from theFederal Reserve Bank of Kansas City “Economic Review”
Edward S. Knotek, II (au)
From the beginning of 2003 through the first quarter of 2006, real gross domestic product in the U.S. grew at an average annual rate of 3.4% As expected, unemployment during the period fell. Over the course of the next year, average growth slowed to less than half its earlier rate -- but unemployment continued to drift downward. This situation presented a puzzle, who expected the unemployment rate to increase as the economy slowed. This negative correlation between GDP growth & unemployment has been named “Okun’s law.” This article considers the usefulness of Okun’s law for policymakers & economists. Okun’s relationship can be useful as a forecasting tool -- provided that one takes its instability into account. Charts & tables.
Country Ribbon Crafts: Delightful Projects Using Easy Techniques
Essential Tibetan Buddhism
Commonwealth of Science: ANZAAS & the Scientific Enterprise in Australia, 1888-1988
Solutions: The Woman’s Crisis Handbook
Women of Strength: Biographies of 106 Who Have Excelled in Traditionally Male Fields, A.D. 61 to the Present
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