Okun's Law, Creation of Money and the Decomposition of the Rate of Unemployment

Stéphane Mussard; Bernard Philippe

Okun's Law, Creation of Money and the Decomposition of the Rate of Unemployment

Stéphane Mussard, Bernard Philippe

Research output: Working paper

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Abstract

In this paper, we show that the rate of unemployment in period t depends on GDP and inflation rate in period t-1. We then show that GDP is related to money creation, and subsequently that the rate of unemployment is a decreasing function of this creation.

Original language	English
Publisher	CEPS/INSTEAD
Number of pages	9
Publication status	Published - 2006
Externally published	Yes

Publication series

Name	IRISS Working Papers
Publisher	CEPS/INSTEAD
No.	2006-08

Keywords

GDP
creation of money
decomposition
rate of unemployment

Access to Document

Working Paper n°2006-08Final published version, 669 KB

Cite this

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