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Australian Unemployment in the Long Run, 1903-2007

Bhattacharyya, S and Hatton, TJ (2011) 'Australian Unemployment in the Long Run, 1903-2007.' Economic Record, 87 (277). 202 - 220. ISSN 0013-0249

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We develop a two equation model of wage setting and unemployment, which we estimate on annual time series for Australia since Federation. Our model links the real wage level to productivity and to a set of wage pressure variables, while the unemployment rate is linked to the gap between the real wage and productivity and to demand side variables. We evaluate the contribution of different variables to the equilibrium unemployment rate for 1903-1941, 1942-1973 and 1974-2007. We also examine the effects on unemployment of several key policy-related episodes in wage regulation spread over the past century of labour market history. © 2011 The Economic Society of Australia.

Item Type: Article
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 06 Aug 2012 13:09
Last Modified: 23 Jan 2019 00:17

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