Investigating Okun Misery Index for Democratic States with Application in Albania

  • Abstract:

    Okun misery index is a fundamental poverty assessment parameter. The objective of the present study is to develop a statistical analysis for Okun misery index in each democratic state during a specified period. The countries with the lowest misery index are: Switzerland 3.50, Japan 4.80, Norway 4.90, Mexico 8.37 and Australia 8.80. The countries with the highest misery index are: Greece 29.23, South Africa 28.90, Spain 24, etc.
    This method applied in Republic of Albania over the period January 2005 –December 2014. The results of the present study include:
    • The Central Limit Theorem is not valid for quarterly inflation rate in Albania during the specified period at 99.9% confidence level.
    • The Central Limit Theorem is not valid for quarterly unemployment rate in Albania during the specified period at 99.9% confidence level.
    • The Central Limit Theorem is not valid for quarterly Okun misery index in Albania during the specified period at 86.4% confidence level.
    • The inflation process in Albania during the specified period is an unfair game at 98.8% confidence level.
    • The unemployment process in Albania during the specified period is an unfair game at 99.9% confidence level.
    • The miserably process in Albania during the specified period (related to the quarterly Okun misery index) is an unfair game at 98.3% confidence level.

 

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