The relationship between economic growth and unemployment has long been a central concern of macroeconomics, particularly for policymakers seeking to balance objectives of stability and full employment. One of the most enduring contributions to this discussion is Okun’s Law, named after the American economist Arthur M. Okun, who first articulated the relationship in the early 1960s. While not a structural law in the sense of immutable causation, Okun’s Law provides a robust empirical regularity linking changes in output to changes in unemployment. Its simplicity and intuitive appeal have made it a cornerstone of applied macroeconomic analysis, even as its exact parameters vary across time and context.
Read MoreThe study of fertility dynamics has long sought to disentangle the drivers of changes in birth rates across time and space. One of the most significant advances in this area has been the identification of the so-called tempo effect of fertility, which highlights the role of changes in the timing of births in shaping observed fertility measures. First introduced systematically by demographer John Bongaarts in the late 1990s, the concept has reshaped how scholars interpret fluctuations in fertility rates, particularly in contexts of rapid demographic transition.
Read MoreFrom its origins, classical macroeconomic theory has rested heavily on Walrasian foundations—markets clearing through price adjustments and equilibrium emerging across interlinked markets. Post‑Walrasian Macroeconomics, however, represents a response to and departure from that orthodoxy, particularly the Dynamic Stochastic General Equilibrium (DSGE) model that came to dominate macroeconomic discourse at the end of the 20th century. Instead, it seeks to craft a richer, more nuanced understanding of real economies—one that embraces complexity, institutions, evolving expectations, and computational methods beyond the neat, equilibrium‑focused paradigm.
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