Arthur Okun

From MarketsWiki
Jump to navigation Jump to search


Arthur Okun
Arthur Melvin Okun.jpg
Occupation Economist

Arthur Melvin "Art" Okun was an American economist.

He is known for his stating of Okun’s Law which says that for every 2 percent that real gross domestic product (GDP) falls below its trend, there will be a 1 percent increase in the unemployment rate.[1] Okun discovered the law while he was a senior economist with President John F. Kennedy's Council of Economic Advisers (CEA).[2]

He also coined the term “misery index” in the 1960s. It was the sum of the unemployment rate and inflation at any given time.[3]

He died unexpectedly from a heart attack on March 23, 1980, in Washington D.C., at the age of 51.[4]


  • US Council of Economic Advisers Member (1964-69),Chairman (1968-69)
  • US Council of Economic Advisers Staffer (1961-62)
  • Brookings Institution Senior Fellow (1969-80)


  • University: BA, Columbia University (1949)
  • University: PhD, Columbia University (1956)
  • Professor: Yale University