奥肯定律指出，一国的产出缺口与失业率偏离其自然失业率之间存在负相关关系。当实际失业率高于自然失业率时，就会出现负的产出缺口，从而导致经济衰退。当实际失业率低于自然失业率时，产出缺口为正，这可能导致通货膨胀压力(Parkin et al.， 2014)。为了理解的产出缺口在新西兰期间2000年至2015年,重要的是要获得同一时期的失业率数据,实际GDP的实际输出恒定2010美元和新西兰的自然失业率。克鲁格曼和威尔斯(2009)认为新西兰的自然失业率为5.34%。要计算产出缺口，重要的是通过以下公式计算潜在GDP:
PotentialGDP = ActualGDP * 1-naturalunemployment1-actualunemployment
OutputGap = ActualGDP-PotentialGDP
由于经济衰退造成的产出缺口正在减少潜在的国内生产总值，新西兰几乎处于其全部生产能力水平。经济学家预测，这种情况将在未来几年持续下去，因此产出缺口可能是正的。最近，新西兰储备银行(Reserve Bank of New Zealand)将官方现金利率(OCR)下调至2%，旨在加速经济复苏。OCR的减少将增加自主支出，从而减少负正缺口，消除衰退缺口。
Okun’s Law states that there is a negative association between the output gap of the country and the deviation of the unemployment rate from its natural rate of unemployment. When the actual unemployment rate is higher than the natural rate of unemployment then there is a negative output gap which leads to recession. When the actual unemployment rate is lower than the natural unemployment rate then there is a positive output gap which this could lead to inflationary pressure (Parkin et al., 2014). In order to understand the output gap in New Zealand from the time period 2000 to 2015, it is important to obtain the data of unemployment rate of the same time period, the actual output which is the real GDP at constant 2010 US$ and the natural rate of unemployment of New Zealand. The natural rate of unemployment of New Zealand as suggested by Krugman and Wells (2009) is 5.34%. To calculate the output gap, it is important to calculate the potential GDP through the following formula:
After obtaining the potential GDP values, the output gap is calculated by deducting Potential output from Actual output/GDP as shown below:
New Zealand is almost at its full capacity level as the recessionary output gap is decreasing of the potential GDP. Economists have predicted this to continue in the upcoming years and therefore the output gap can be positive. Recently, Reserve Bank of New Zealand had reduced the Official Cash Rate (OCR) to 2% which is intended to accelerate the economy towards recovery. The decrease in the OCR will increase the autonomous spending which will reduce the negative positive gap and remove the recessionary gap.