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Labour Market Models of Unemployment in Australia

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Author Info
Jeff Borland (Department of Economics, The University of Melbourne)
Ian McDonald (Department of Economics, The University of Melbourne)

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Abstract

This paper reviews evidence on the equilibrium rate of unemployment and on causes of unemployment in Australia from empirical modelling of labour market outcomes. Three main types of models are reviewed - Phillips curve models; Multi-equation models; and Beveridge curve models. The paper begins with a simple review of labour market theory in order to provide some motivation for the empirical approaches that are examined. In the main part of the paper the three modelling approaches are reviewed. For each model the estimation methodology is described, main results on causes of unemployment from that approach are summarised, and an evaluation of the model is made.

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Publisher Info
Paper provided by Melbourne Institute of Applied Economic and Social Research, The University of Melbourne in its series Melbourne Institute Working Paper Series with number wp2000n15.

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Length: 48 pages
Date of creation: Sep 2000
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Handle: RePEc:iae:iaewps:wp2000n15

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  1. 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 629-43, September.
  2. Debelle, Guy & Vickery, James, 1998. "Is the Phillips Curve a Curve? Some Evidence and Implications for Australia," The Economic Record, The Economic Society of Australia, vol. 74(227), pages 384-98, December.
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  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 118-31, June.
  4. Shapiro, Carl & Stiglitz, Joseph E, 1984. "Equilibrium Unemployment as a Worker Discipline Device," American Economic Review, American Economic Association, vol. 74(3), pages 433-44, June. [Downloadable!] (restricted)
  5. Stegman, A. & Stegman, T., 1999. "Labour Market Flexibility, the Beveridge Curve, and the Output-Employment Ratio in Australia," Papers 99/16, New South Wales - School of Economics.
  6. Olivier J. Blanchard & Lawrence H. Summers, 1986. "Hysteresis and the European Unemployment Problem," Working papers 427, Massachusetts Institute of Technology (MIT), Department of Economics.
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  7. Jeff Borland, 1990. "Unemployment in Australia," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 23(1), pages 41-51. [Downloadable!] (restricted)
  8. Bean, Charles R, 1994. "European Unemployment: A Survey," Journal of Economic Literature, American Economic Association, vol. 32(2), pages 573-619, June. [Downloadable!] (restricted)
  9. Simes, R M & Richardson, C J, 1987. "Wage Determination in Australia," The Economic Record, The Economic Society of Australia, vol. 63(181), pages 144-55, June.
  10. Pissarides, Christopher A, 1991. "Real Wages and Unemployment in Australia," Economica, London School of Economics and Political Science, vol. 58(229), pages 35-55, February. [Downloadable!] (restricted)
  11. Edmund S. Phelps, 1968. "Money-Wage Dynamics and Labor-Market Equilibrium," Journal of Political Economy, University of Chicago Press, vol. 76, pages 678. [Downloadable!] (restricted)
  12. David Gruen & Adrian Pagan & Christopher Thompson, 1999. "The Phillips Curve in Australia," RBA Research Discussion Papers rdp1999-01, Reserve Bank of Australia. [Downloadable!]
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  13. Kenichi Kawasaki & Peter Hoeller & Pierre Poret, 1990. "Modelling Wages and Prices for the Smaller OECD Countries," OECD Economics Department Working Papers 86, OECD, Economics Department. [Downloadable!]
  14. Nevile, John W, 1977. "Domestic and Overseas Influences on Inflation in Australia," Australian Economic Papers, Blackwell Publishing, vol. 16(28), pages 121-29, June.
  15. Kirby, Michael G, 1981. "A Variable Expectations Coefficient Model of the Australian Phillips Curve," Australian Economic Papers, Blackwell Publishing, vol. 20(37), pages 351-58, December.
  16. Crosby, M. & Olekalns, N., 1997. "Inflation, Unemployment and the Nairu in Australia," Department of Economics - Working Papers Series 543, The University of Melbourne.
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  17. Mitchell, William F, 1987. "The Nairu, Structural Imbalance and the Macroequilibrium Unemployment Rate," Australian Economic Papers, Blackwell Publishing, vol. 26(48), pages 101-18, June.
  18. Gregory, R.G. & Hunter, B., 1995. "The Macro Economy and the Growth of Ghettos and Urban Poverty in Australia," CEPR Discussion Papers 325, Centre for Economic Policy Research, Research School of Social Sciences, Australian National University.
  19. Gregory, R G, 1986. "Wages Policy and Unemployment in Australia," Economica, London School of Economics and Political Science, vol. 53(210(S)), pages S53-74, Supplemen. [Downloadable!] (restricted)
  20. Jeff Borland, 1997. "Unemployment in Australia-Prospects and Policies: An Overview," Australian Economic Review, The University of Melbourne, Melbourne Institute of Applied Economic and Social Research, vol. 30(4), pages 391-404. [Downloadable!] (restricted)
  21. Dawkins, Peter & Wooden, Mark, 1985. "Labour Utilization and Wage Inflation in Australia: An Empirical Examination," The Economic Record, The Economic Society of Australia, vol. 61(173), pages 516-21, June.
  22. McDonald, Ian M & Sibly, Hugh, 2001. "How Monetary Policy Can Have Permanent Real Effects with Only Temporary Nominal Rigidity," Scottish Journal of Political Economy, Scottish Economic Society, vol. 48(5), pages 532-46, November. [Downloadable!] (restricted)
  23. Withers, Glenn & Pope, David, 1985. "Immigration and Unemployment," The Economic Record, The Economic Society of Australia, vol. 61(173), pages 554-63, June.
  24. Tom Valentine, 1993. "The Sources of Unemployment: A Simple Econometric Analysis," Working Paper Series 32, School of Finance and Economics, University of Technology, Sydney. [Downloadable!]
  25. Bean, C R & Layard, P R G & Nickell, S J, 1986. "The Rise in Unemployment: A Multi-country Study," Economica, London School of Economics and Political Science, vol. 53(210(S)), pages S1-22, Supplemen. [Downloadable!] (restricted)
  26. Bodman, Philip M, 1999. "Labour Market Inefficiency and Frictional Unemployment in Australia and Its States: A Stochastic Frontier Approach," The Economic Record, The Economic Society of Australia, vol. 75(229), pages 138-48, June.
  27. Guy Debelle & James Vickery, 1998. "The Macroeconomics of Australian Unemployment," RBA Annual Conference Volume, in: Guy Debelle & Jeff Borland (ed.), Unemployment and the Australian Labour Market Reserve Bank of Australia. [Downloadable!]
  28. Jerome Fahrer & Andrew Pease, 1993. "The Unemployment/Vacancy Relationship in Australia," RBA Research Discussion Papers rdp9305, Reserve Bank of Australia. [Downloadable!]
Full references

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. John Freebairn & Peter Dawkins, 2003. "Unemployment Policy: Lessons from Economic Analysis," Melbourne Institute Working Paper Series wp2003n22, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne. [Downloadable!]
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