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Investopedia explains 'Okun Gap'
An Okun gap can be expressed in either percentage or absolute terms and will be a measure of how much output, as measured by GDP, the economy produced in a given time period relative to the economy's full-employment level.
Arthur Okun, who is the person credited with discovering Okun's law, among other famous discoveries, was a senior economist at the Counsel of Economic Advisers (CEA) during President Kennedy's term in office and a professor at Yale University.
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