Arthur Melvin Okun

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Arthur M. Okun
Neo-Keynesian economics
Arthur Melvin Okun.jpg
Born(1928-11-28)November 28, 1928
Jersey City, New Jersey
DiedMarch 23, 1980(1980-03-23) (aged 51)
Washington, D. C.
NationalityUnited States
InstitutionYale University
FieldMacroeconomics
Alma materColumbia University
InfluencesJohn Maynard Keynes
InfluencedBill Mitchell
ContributionsOkun's law
 
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Arthur M. Okun
Neo-Keynesian economics
Arthur Melvin Okun.jpg
Born(1928-11-28)November 28, 1928
Jersey City, New Jersey
DiedMarch 23, 1980(1980-03-23) (aged 51)
Washington, D. C.
NationalityUnited States
InstitutionYale University
FieldMacroeconomics
Alma materColumbia University
InfluencesJohn Maynard Keynes
InfluencedBill Mitchell
ContributionsOkun's law

Arthur Melvin "Art" Okun (November 28, 1928 – March 23, 1980)[1] 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.

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Government offices
Preceded by
Gardner Ackley
Chairman of the Council of Economic Advisers
1968–1969
Succeeded by
Paul McCracken