The Australian Phillips curve and more
A quantitative model is presented linking the rate of inflation and unemployment to the change in the level of labor force. The link between the involved variables is a linear one with all coefficients of individual and generalized models obtained empirically. To achieve the best fit between measured and predicted time series cumulative curves are used as a simplified version of the 1-D boundary elements method. All models for Australia are similar to those obtained for the US, France, Japan and other developed countries and thus validate the concept and related quantitative model.
References listed on IDEAS
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- Bårdsen Gunnar & Hurn Stanley & McHugh Zöe, 2012.
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Studies in Nonlinear Dynamics & Econometrics,
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- Gunnar Bårdsen & Stan Hurn & Zoë McHugh, 2010. "Asymmetric unemployment rate dynamics in Australia," Working Paper Series 10810, Department of Economics, Norwegian University of Science and Technology.
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"Inflation as a function of labor force change rate: cointegration test for the USA,"
2734, University Library of Munich, Germany.
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- Ivan Kitov & Oleg Kitov & Svetlana Dolinskaya, 2007. "Inflation as a Function of Labor Force Change Rate: Cointegration Test for the USA," Mechonomics mechonomics3, Socionet.
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"An Estimated New Keynesian Policy Model for Australia,"
The Economic Record,
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- Andrew Atkeson & Lee E. Ohanian, 2001. "Are Phillips curves useful for forecasting inflation?," Quarterly Review, Federal Reserve Bank of Minneapolis, issue Win, pages 2-11. Full references (including those not matched with items on IDEAS)
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