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Asymmetric Unemployment Rate Dynamics in Australia

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  • Bårdsen Gunnar

    ()
    (Norwegian University of Science and Technology)

  • Hurn Stanley

    ()
    (Queensland University of Technology)

  • McHugh Zöe

    ()
    (Aberdeen Asset Managers Limited)

Abstract

The unemployment rate in Australia is modelled as an asymmetric and nonlinear function of aggregate demand, productivity, real interest rates, the replacement ratio and the real exchange rate. If changes in unemployment are big, the management of of demand, real interest rates and the replacement ratio will be good instruments to start bringing it down. The model is developed by exploiting recent developments in automated model-selection procedures.

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Bibliographic Info

Article provided by De Gruyter in its journal Studies in Nonlinear Dynamics & Econometrics.

Volume (Year): 16 (2012)
Issue (Month): 1 (January)
Pages: 1-22

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Handle: RePEc:bpj:sndecm:v:16:y:2012:i:1:n:3

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Cited by:
  1. Jennifer Castle & David Hendry, 2013. "Forecasting and Nowcasting Macroeconomic Variables: A Methodological Overview," Economics Series Working Papers 674, University of Oxford, Department of Economics.
  2. Ivan Kitov & Oleg Kitov, 2011. "The Australian Phillips curve and more," Papers 1102.1851, arXiv.org.
  3. David Hendry & Felix Pretis, 2011. "Anthropogenic Influences on Atmospheric CO2," Economics Series Working Papers 584, University of Oxford, Department of Economics.

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