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Arthur Melvin Okun
Arthur Melvin "Art" Okun (November 28, 1928 – March 23, 1980) 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.
==Works==
* ''Equality and Efficiency: The Big Trade Off'' (Washington, Brookings, 1975)
* ''Prices and Quantities: A Macroeconomic Analysis'', (see here ) (1981) ISBN 0-8157-6480-4
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