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Incorporating International Competitiveness into the Demand for Labour Function: Some Issues of Specification and Interpretation

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  • P. K. TRTVEDI
  • J. N. ALEXANDER

Abstract

This paper attempts to clarify the theoretical status and the empirical role of measures of ‘international competitiveness’ that have been used in econometric demand for labour equations. Some currently popular alternatives are finked to a simple version of the Salter‐Swan‐Dornbusch (‘Australian‘) dependent economy model which is found to provide insufficient basis for choosing between alternative measures, which in the Australian case at least are found to behave rather differently. In explaining employment in Australia during the period 1971‐83, the preferred competitiveness variable is found to play a marginal role only with estimated long‐run elasticity similar to that for the real labour cost

Suggested Citation

  • P. K. Trtvedi & J. N. Alexander, 1988. "Incorporating International Competitiveness into the Demand for Labour Function: Some Issues of Specification and Interpretation," The Economic Record, The Economic Society of Australia, vol. 64(3), pages 196-208, September.
    • Handle: RePEc:bla:ecorec:v:64:y:1988:i:3:p:196-208
    DOI: 10.1111/j.1475-4932.1988.tb02058.x
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    References listed on IDEAS

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    1. P. K. Trivedi & G. M. Baker, 1985. "Equilibrium Unemployment in Australia: Concepts and Measurement," The Economic Record, The Economic Society of Australia, vol. 61(3), pages 629-643, September.
    2. J. D. Pitchford, 1986. "The Australian Economy: 1985 and Prospects for 1986," The Economic Record, The Economic Society of Australia, vol. 62(1), pages 1-21, March.
    3. Pitchford, J D, 1983. "Unemployment, Real Wages and the Money Supply in Australia," The Economic Record, The Economic Society of Australia, vol. 59(165), pages 118-131, June.
    4. McDonald, Ian M & Solow, Robert M, 1981. "Wage Bargaining and Employment," American Economic Review, American Economic Association, vol. 71(5), pages 896-908, December.
    5. Pitchford, J D, 1986. "The Australian Economy: 1985 and Prospects for 1986," The Economic Record, The Economic Society of Australia, vol. 62(176), pages 1-21, March.
    6. J. D. Pitchford, 1983. "Unemployment, Real Wages and the Money Supply in Australia," The Economic Record, The Economic Society of Australia, vol. 59(2), pages 118-131, June.
    7. Trivedi, P K & Hui, W T, 1987. "An Empirical Study of Long-term Unemployment in Australia," Journal of Labor Economics, University of Chicago Press, vol. 5(1), pages 20-42, January.
    8. Trivedi, P K & Baker, G M, 1985. "Equilibrium Unemployment in Australia: Concepts and Measurement," The Economic Record, The Economic Society of Australia, vol. 61(174), pages 629-643, September.
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    Cited by:

    1. Doucouliagos, Chris, 1997. "The Aggregate Demand for Labour in Australia: A Meta-analysis," Australian Economic Papers, Wiley Blackwell, vol. 36(69), pages 224-242, December.

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