Microeconomic Reform and Employment in the Short Run

Philip David Adams () and Brian R Parmenter

The Economic Record, 1994, vol. 70, issue 208, pages 1-11

Abstract: In the long run, macroeconomic reform will improve living standards by increasing the quantity of goods and services that the economy can produce with its limited productive resources. However, in the short run, reform might lead to a reduction in the usage of productive resources, especially labor, rather than to an increase in output. In this paper, the authors examine the short-run relationship between microeconomic reform and employment in Australia using simulations with an applied general equilibrium model. Copyright 1994 by The Economic Society of Australia.

Date: 1994

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