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Giorgio Canarella and Stephen Miller

Published: Giorgio Canarella and Stephen Miller

Jul 10, 2017

Giorgio Canarella and Stephen Miller (both Economics) have been published in Business Economics, the journal of the National Association of Business Economics. The paper, "Did Okun’s Law Die after the Great Recession?," looks at an old rule of thumb in economics, Okun's Law, which ceased to exist post Great Recession. According to Investopedia.com, Okun's Law pertains to the relationship between the U.S. economy's unemployment rate and its gross national product (GNP). It states that when unemployment falls by 1 percent, GNP rises by 3 percent.