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Estimates of the Range of Equilibrium Rates of Unemployment for Australia
journal contribution
posted on 2023-05-16, 13:14 authored by Lye, JN, McDonald, IM, Sibly, HAThis paper estimates the range of equilibrium rates of unemployment for Australia. The estimation technique nests a unique equilibrium rate of unemployment as a special case. It is found for the period 1965-97 that a range of equilibria of at least 6.6 percentage points of unemployment exists in Australia. The lower limit of this range, which is the minimum rate of unemployment consistent with non-increasing inflation, was 2-3 per cent in the 1960s, jumped in the early 1970s and was about 5.6 per cent during the 1990s.
History
Publication title
The Economic RecordVolume
77Issue
236Pagination
35-50ISSN
0013-0249Department/School
TSBEPublisher
Economic Society of Australia Brown Prior Anderson Pty LtdPlace of publication
Burwood, Victoria, AustraliaRepository Status
- Restricted