The Costs of Inflation and Unemployment in Australia
AbstractThis paper examines the costs of inflation and unemployment encountered in the post-war Australian economy. The analysis takes place under the assumption that a trade-off between inflation and unemployment has persisted over this period. The methodology encompasses estimates of Okuns coefficient and the sacrifice ratio, over varying time horizons, in order to examine the effect that each has on output. When compared, the evidence strongly suggests that, in terms of output lost, unemployment imposes a greater and more conspicuous cost to the economy than does inflation.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
Bibliographic InfoPaper provided by School of Economics, La Trobe University in its series Working Papers with number 2000.05.
Length: 27 pages
Date of creation: 2000
Date of revision:
Unemployment; Inflation; Trade;
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.:
- Borland, J. & Kennedy, S., 1998.
"Dimensions, Structure and History of Australian Unemployment,"
CEPR Discussion Papers
388, Centre for Economic Policy Research, Research School of Economics, Australian National University.
- Jeff Borland & Steven Kennedy, 1998. "Dimensions, Structure and History of Australian Unemployment," RBA Annual Conference Volume, in: Guy Debelle & Jeff Borland (ed.), Unemployment and the Australian Labour Market Reserve Bank of Australia.
- Koenker, Roger, 1981. "A note on studentizing a test for heteroscedasticity," Journal of Econometrics, Elsevier, vol. 17(1), pages 107-112, September.
- Don Harding & Adrian Pagan, 1999. "Knowing the Cycle," Melbourne Institute Working Paper Series wp1999n12, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Stephen Scoglio).
If references are entirely missing, you can add them using this form.