Real wages and unemployment in Australia
Christopher A. Pissarides, London School of Economics and Political Science. Centre for Labour Economics
Centre for Labour Economics, London School of Economics, 1987 - Business & Economics - 39 pages
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affect employment aggregate demand Australian labour market Average weekly hours award wages capital stock cause unemployment cent changes in unemployment consumption wage cost of labour cyclical demand-side variable discouraged-worker effect Dummy variable economic variables effect on wages effects on employment elasticity of employment equal pay dummy equal pay push exogenous firms government expenditure Gross national expenditure group of variables Hence incomes policies increase influence employment Instrumented Variables investment LABOUR ECONOMICS labour force equation Layard and Nickell money supply OECD OSWALD part-time employment participation rate Personhours Phillips curve PLOEG population productivity growth proxy the effect raises real wages ratio of female real cost real interest rate real M3 real wage rate regression replacement ratio restriction rise in unemployment significant substitution effects supply-side Table tax wedge technical progress trend unemployment benefits Unemployment in Australia unions variable to proxy wage elasticity wage equation wage pause wages and unemployment