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Estimates of the Range of Equilibrium Rates of Unemployment for Australia

Citation

Lye, JN and McDonald, IM and Sibly, HA, Estimates of the Range of Equilibrium Rates of Unemployment for Australia, The Economic Record, 77, (236) pp. 35-50. ISSN 0013-0249 (2001) [Refereed Article]

DOI: doi:10.1111/1475-4932.00003

Abstract

This 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.

Item Details

Item Type:Refereed Article
Research Division:Economics
Research Group:Econometrics
Research Field:Economic Models and Forecasting
Objective Division:Economic Framework
Objective Group:Macroeconomics
Objective Field:Macroeconomics not elsewhere classified
Author:Sibly, HA (Dr Hugh Sibly)
ID Code:22944
Year Published:2001
Web of Science® Times Cited:11
Deposited By:Economics and Finance
Deposited On:2001-08-01
Last Modified:2002-05-09
Downloads:0

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