Donnerstag, 24. April 2014

Okun Isn't Brokun'

"Why does it matter whether Okun’s Law holds? It’s because the alleged demise of Okun’s Law is often used as a jumping-off point to argue that the link between jobs and growth is broken, so structural reforms are needed to restore job creation. The stability of Okun’s Law, combined with evidence that the Beveridge Curve is looping back to normality [...] suggests that cyclical factors may still be behind the weakness in labor markets."

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