Labour Market Dynamics in Australia

Dennis Wesselbaum

Australian Economic Review, 2014, vol. 47, issue 2, 173-188

Abstract: type="main" xml:lang="en">

This article estimates a stylised search-and-matching model on data for Australia, covering the period 1978–2008. Using Bayesian methods, I find that the model does a fairly good job in replicating the data. Surprisingly, I 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. I identify technology and separation shocks to be the main drivers of fluctuations.

Date: 2014
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Working Paper: Labour Market Dynamics in Australia (2013)
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