Bhattacharyya, Sambit and Hatton, Timothy J (2011) Australian Unemployment in the Long Run, 1903-2007. Economic Record, 87 (277). pp. 202-220. DOI https://doi.org/10.1111/j.1475-4932.2010.00705.x
Bhattacharyya, Sambit and Hatton, Timothy J (2011) Australian Unemployment in the Long Run, 1903-2007. Economic Record, 87 (277). pp. 202-220. DOI https://doi.org/10.1111/j.1475-4932.2010.00705.x
Bhattacharyya, Sambit and Hatton, Timothy J (2011) Australian Unemployment in the Long Run, 1903-2007. Economic Record, 87 (277). pp. 202-220. DOI https://doi.org/10.1111/j.1475-4932.2010.00705.x
Abstract
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.
Item Type: | Article |
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Uncontrolled Keywords: | E24; J52; N17 |
Subjects: | H Social Sciences > HB Economic Theory |
Divisions: | Faculty of Social Sciences Faculty of Social Sciences > Economics, Department of |
SWORD Depositor: | Unnamed user with email elements@essex.ac.uk |
Depositing User: | Unnamed user with email elements@essex.ac.uk |
Date Deposited: | 06 Aug 2012 13:09 |
Last Modified: | 30 Oct 2024 19:47 |
URI: | http://repository.essex.ac.uk/id/eprint/3236 |
Available files
Filename: OzUnemploymentPrePub.docx.pdf