death_date death_place influenced birth_place school_tradition influences color contributions nationality institution field birth_date image article_title name alma_mater
23 march 1980 washington , d. c. bill mitchell jersey city , new jersey neo-keynesian economics john maynard keynes darkorange okun 's law united states yale university macroeconomics 28 november 1928 arthur melvin okun.jpg arthur melvin okun
 arthur m. okun columbia university
arthur melvin okun

arthur melvin `` art '' okun -lrb- november 28 , 1928 -- march 23 , 1980 -rrb- 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 .
