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2004•Unpublished venueRequires access

The contradiction between GDP and Okun's Law

Gao Ya

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Abstract

What is the relation between the increase of GDP(Gross Desmic Production) and unemployment?Perhaps the common answer is:negative relation(i.e.Okun's Law).And there are also quite a few of economists who give different ratios from different data. However,general ratio as follow: unemployment slows down 1 percent with the increase of GDP by 2-2.5 percent.This paper tries to discuss the relation between increase of GDP and unemployment based on Chinese facts.

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What is the relation between the increase of GDP(Gross Desmic Production) and unemployment?Perhaps the common answer is:negative relation(i.e.Okun's Law).And there are also quite a few of economists who give different ratios from different data. However,general ratio as follow: unemployment slows down 1 percent with the increase of GDP by 2-2.5 percent.This paper tries to discuss the relation between increase of GDP and unemployment based on Chinese facts.

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Available abstract

What is the relation between the increase of GDP(Gross Desmic Production) and unemployment?Perhaps the common answer is:negative relation(i.e.Okun's Law).And there are also quite a few of economists who give different ratios from different data. However,general ratio as follow: unemployment slows down 1 percent with the increase of GDP by 2-2.5 percent.This paper tries to discuss the relation between increase of GDP and unemployment based on Chinese facts.

Key concepts: Okun's law, Unemployment, Economics, Contradiction, Real gross domestic product, Relation (database), Gross domestic product, Misery index

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