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Macro by Mark

Global Economic Data, Empirical Models, and Macro Theory
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Public data from government agencies and multilateral statistical releases, anchored in official sources

© 2026 Mark Jayson Nation

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Theory-Based Models

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Okun's Law
Model

An empirical regularity linking the unemployment gap to the output gap: u - u* = -beta * (Y - Y*)/Y*. When output exceeds potential, unemployment falls below its natural rate, and vice versa.

By how much does unemployment deviate from its natural rate when output departs from potential?

Composition

uuu
Actual unemployment rate

The observed unemployment rate in the economy.

u∗u*u∗
Natural unemployment rate

The unemployment rate consistent with stable infla...

YYY
Actual output

Real GDP as currently measured.

Y∗Y*Y∗
Potential output

The level of output the economy can sustain withou...

GraphProofCompare

Short Run Equilibrium

Unemployment

5.00

Output gap

0.0

Natural rate

5.0