Okunn.

Brit.

/ˈəʊk(ə)n/, U.S.

/ˈoʊk(ə)n/

Origin: From a proper name. Etymon: proper name Okun.

Etymology: < the name of Arthur M. Okun (1928–80), U.S. economist.

Economics.

1. Okun's Law n. a rule which states that the degree to which actual productivity falls short of (or exceeds) long-term potential productivity is directly related to increased (or decreased) unemployment.

ΘΚΠ

society > trade and finance > management of money > management of national resources > [noun] > political economy > specific theories or doctrines

Ricardianism1827

protectionism1846

physiocracy1856

Smithianism1880

quantity theory1885

physiocratism1890

fiscalism1892

tariffism1903

cameralism1909

marginalism1912

rationalism1915

consumerism1921

Kondratieff1935

Keynesian economics1940

Keynesianism1942

Walras' law1942

Chicago school1949

Paretanism1949

neo-Keynesianism1961

Okun's Law1962

structuralism1962

monetarism1967

market fundamentalism1984

1962 Amer. Econ. Rev. 52 82 The only other systematic attempt to relate the gap between actual and potential output to the unemployment rate is Okun's Law..which states that the percentage excess of potential over actual output is 3.2 times the excess of the (conventional) unemployment rate over 4 per cent.

1976 New Yorker 16 Feb. 90/2 Okun's Law..asserts that growth in production must exceed some minimum value in order to keep unemployment from rising as labor productivity increases and the need for labor declines, relative to output.

1992 A. Leijonhufvud in A. Vercelli & N. Dimitri Macroeconomics ii. 33 Okun's Law is a result not of labour-hoarding, but of the increasing-returns technology in this system.

2. Okun gap n. (also Okun's gap) the difference between potential and actual productivity in an economy, esp. as a measure of economic efficiency.

ΚΠ

1975 Amer. Econ. Rev. 65 198/2 Excess labor supply and Y—Y^*, the ‘Okun gap’, are linked.

1984 Jrnl. Money, Credit, & Banking 16 558 It takes many Harberger's triangles to fill one Okun's gap.

1998 Jrnl. Econ. Issues (Electronic ed.) 1 June The BSE proposal is a very cheap option compared to the Okun gap losses that are incurred daily due to unemployment.

3. Okun index n. (also Okun's index) = misery index n. at misery n. Compounds 2. rare.

ΚΠ

1986 U.S. News & World Rep. 8 Sept. 53/1 ‘There isn't a heck of a lot of misery as measured by Okun's index,’ says Edward Yardeni, chief economist for Prudential-Bache Securities.

2001 Applied Econ. (Nexis) 20 Feb. 407 The discomfort or misery-index.., originally developed by Okun and therefore also known as the Okun index.

This is a new entry (OED Third Edition, March 2004; most recently modified version published online March 2022).

单词	okun
释义	Okunn. Brit. /ˈəʊk(ə)n/, U.S. /ˈoʊk(ə)n/ Origin: From a proper name. Etymon: proper name Okun. Etymology: < the name of Arthur M. Okun (1928–80), U.S. economist. Economics. 1. Okun's Law n. a rule which states that the degree to which actual productivity falls short of (or exceeds) long-term potential productivity is directly related to increased (or decreased) unemployment. ΘΚΠ society > trade and finance > management of money > management of national resources > [noun] > political economy > specific theories or doctrines Ricardianism1827 protectionism1846 physiocracy1856 Smithianism1880 quantity theory1885 physiocratism1890 fiscalism1892 tariffism1903 cameralism1909 marginalism1912 rationalism1915 consumerism1921 Kondratieff1935 Keynesian economics1940 Keynesianism1942 Walras' law1942 Chicago school1949 Paretanism1949 neo-Keynesianism1961 Okun's Law1962 structuralism1962 monetarism1967 market fundamentalism1984 1962 Amer. Econ. Rev. 52 82 The only other systematic attempt to relate the gap between actual and potential output to the unemployment rate is Okun's Law..which states that the percentage excess of potential over actual output is 3.2 times the excess of the (conventional) unemployment rate over 4 per cent. 1976 New Yorker 16 Feb. 90/2 Okun's Law..asserts that growth in production must exceed some minimum value in order to keep unemployment from rising as labor productivity increases and the need for labor declines, relative to output. 1992 A. Leijonhufvud in A. Vercelli & N. Dimitri Macroeconomics ii. 33 Okun's Law is a result not of labour-hoarding, but of the increasing-returns technology in this system. 2. Okun gap n. (also Okun's gap) the difference between potential and actual productivity in an economy, esp. as a measure of economic efficiency. ΚΠ 1975 Amer. Econ. Rev. 65 198/2 Excess labor supply and Y—Y^, the ‘Okun gap’, are linked. 1984 Jrnl. Money, Credit, & Banking* 16 558 It takes many Harberger's triangles to fill one Okun's gap. 1998 Jrnl. Econ. Issues (Electronic ed.) 1 June The BSE proposal is a very cheap option compared to the Okun gap losses that are incurred daily due to unemployment. 3. Okun index n. (also Okun's index) = misery index n. at misery n. Compounds 2. rare. ΚΠ 1986 U.S. News & World Rep. 8 Sept. 53/1 ‘There isn't a heck of a lot of misery as measured by Okun's index,’ says Edward Yardeni, chief economist for Prudential-Bache Securities. 2001 Applied Econ. (Nexis) 20 Feb. 407 The discomfort or misery-index.., originally developed by Okun and therefore also known as the Okun index. This is a new entry (OED Third Edition, March 2004; most recently modified version published online March 2022). < n.1962
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