Do Forecasters Believe in Okun’s Law? An Assessment of Unemployment and Output Forecasts

Do Forecasters Believe in Okun’s Law? An Assessment of Unemployment and Output Forecasts
This paper provides an assessment of the consistency of unemployment and output forecasts. We show that, consistent with Okun's Law, forecasts of real GDP growth and the change in unemployment are negatively correlated. The Okun coefficient—the responsiveness of unemployment to growth—from forecasts is fairly similar to that in the data for... READ MORE...

Publication date: February 2014
ISBN 9781475584097
$18.00

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