Social and Behavioral Sciences Commons^™

Analysis Of Us Real Gnp And Unemployment Relations, Riccardo Fiorito, Masanao Aoki

riccardo fiorito

Instead of the more common unemployment rate, the time series data of the US unemployment level is used with real GNP and money stock too. The commonly perceived Okun's Law disappears when moving from the bivariate model to the trivariate model including also money.