Arthur Melvin Okun
| Arthur M. Okun | |
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| Born | November 28, 1928 Jersey City, New Jersey |
| Died | Error: Need valid death date (first date): year, month, day Washington, D. C. |
| Nationality | United States |
| Institution | Yale University |
| Field | Macroeconomics |
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School or tradition
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Neo-Keynesian economics |
| Alma mater | Columbia University |
| Influences | John Maynard Keynes |
| Influenced | Bill Mitchell |
| Contributions | Okun's law |
Arthur Melvin "Art" Okun (November 28, 1928 – March 23, 1980) was an American economist. He served as the chairman of the Council of Economic Advisers between 1968 and 1969. Before serving on the C.E.A., he was a professor at Yale University, and afterwards was a fellow at the Brookings Institution in Washington, D.C.
Okun is known in particular for promulgating Okun's law, an observed relationship that states that for every 1% increase in the unemployment rate, a country's GDP will be roughly an additional 2% lower than its potential GDP. He is also known as the creator of the misery index.
Works
- Equality and Efficiency: The Big Trade Off (Washington, Brookings, 1975)
- Prices and Quantities: A Macroeconomic Analysis, see here (1981) ISBN 0-8157-6480-4
References
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- Brookings Inst Bio and Obit
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| Government offices | ||
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| Preceded by | Chairman of the Council of Economic Advisers 1968–1969 |
Succeeded by Paul McCracken |
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