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The Relationship Between Unemployment and Unfilled Vacancies in Australia:1952–1978

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  • IAN R. HARPER

Abstract

This paper attempts to specify, estimate and test the stability of the Australian U‐V curve for the period 1952–78. After rejecting several simple functional forms of the relationship, a dynamic specification based on the separate works of E. S. Phelps and B. Hansen is adopted. This is found to fit the Australian data satisfactorily. Tests for the structural stability of the relationship over the period reveal the presence of two structural shifts. one during 1962 and the other during 1973. Preliminary investigation of possible causes of this instability points to increases in the read level of unemployment benefits and reductions in the assisted migrant intake over the period as significant contributing factors.

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  • Ian R. Harper, 1980. "The Relationship Between Unemployment and Unfilled Vacancies in Australia:1952–1978," The Economic Record, The Economic Society of Australia, vol. 56(154), pages 231-243, September.
    • Handle: RePEc:bla:ecorec:v:56:y:1980:i:154:p:231-243
    DOI: 10.1111/j.1475-4932.1980.tb01673.x
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    References listed on IDEAS

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    1. Durbin, J, 1970. "Testing for Serial Correlation in Least-Squares Regression When Some of the Regressors are Lagged Dependent Variables," Econometrica, Econometric Society, vol. 38(3), pages 410-421, May.
    2. Bent Hansen, 1970. "Excess Demand, Unemployment, Vacancies, and Wages," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(1), pages 1-23.
    3. Gujarati, Damodar, 1972. "The Behaviour of Unemployment and Unfilled Vacancies: Great Britain, 1958-71. An Alternative View: Reply," Economic Journal, Royal Economic Society, vol. 82(328), pages 1365-1368, December.
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    Cited by:

    1. Paul A. Inglis & Thorsten Stromback, 1986. "Migrants' Unemployment: The Determinants of Employment Success," The Economic Record, The Economic Society of Australia, vol. 62(3), pages 310-324, September.
    2. Mahmood A. Zaidi, 1986. "Do Incomes Policies Restrain Wage Inflation? Some Evidence From Australia, Canada, and the United States," The Economic Record, The Economic Society of Australia, vol. 62(4), pages 468-484, December.
    3. Elizabeth Webster, 1999. "Labour Market Programs and the Australian Beveridge Curve: 1978 to 1997," The Economic Record, The Economic Society of Australia, vol. 75(4), pages 405-416, December.

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