Arthur Melvin Okun
November 28, 1928|
Jersey City, New Jersey
|Died||March 23, 1980
Washington, D. C.
School or tradition
|Alma mater||Columbia University|
|Influences||John Maynard Keynes|
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.
- Equality and Efficiency: The Big Trade Off (Washington, Brookings, 1975)
- Prices and Quantities: A Macroeconomic Analysis, see here (1981) ISBN 0-8157-6480-4
- Arthur M. Okun (1928–1980). The Concise Encyclopedia of Economics. Library of Economics and Liberty (2nd ed.) (Liberty Fund). 2008.
|Chairman of the Council of Economic Advisers
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