Cohen, Ivan K.; Ferretti, Fabrizio; McIntosh, Bryan - In: Cogent Economics & Finance 2 (2014) 1, pp. 1-7
The misery index (the unweighted sum of unemployment and inflation rates) was probably the first attempt to develop a … decompose the misery index using two basic relations of modern macroeconomics: the expectations-augmented Phillips curve and … Okun's law. Our reformulation of the misery index is closer in spirit to Okun's idea. However, we are able to offer an …