Labour Market Dynamics in Australia

Dennis Wesselbaum

MPRA Paper from University Library of Munich, Germany

Abstract: This paper estimates a stylized search and matching model on data for Australia covering the period 1978-2008. Using Bayesian methods we find that the model does a fairly good job in replicating the data. Surprisingly, we find a large value for the worker’s bargaining power and low vacancy posting costs. The model generates a strong Beveridge curve and matches the standard deviations of all variables but vacancies. We identify technology and separation shocks to be the main driver of fluctuations.

Keywords: Bayesian Methods; Business Cycle Fluctuations; Search and Matching; Unemployment. (search for similar items in EconPapers)
JEL-codes: C11 E24 E32 J6 J60 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-cwa, nep-dge and nep-lab
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Related works:
Journal Article: Labour Market Dynamics in Australia (2014)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:47771

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