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Jobless and benefits
Journal Article
Okun’s law over the business cycle: was the great recession all that different?
In 1962, Arthur Okun posited an empirical relationship between the change in the unemployment rate and real output growth. Since then, the media, policymakers, pundits, and intermediate macro students have used the so-called Okun?s law as a rule of thumb to relate changes in unemployment to changes in output growth. However, some studies have suggested that the relationship has not been stable over time. Furthermore, the slow recovery of U.S. unemployment relative to output after the Great Recession has led some to question whether Okun?s law has changed permanently. In this light, the ...
Journal Article
Discouraged
Journal Article
7.8 - 6.2 = 1,716,000
Journal Article
Why so many jobless?
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Gradualism
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Distorted data?
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Fully employed?
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Is there consistency in monetary policy?