Relative Wages and the Changing Industrial Distribution of Employment in Australia*

Michael Keating

The Economic Record, 1983, vol. 59, issue 4, 384-397

Abstract: A simple model is used to analyze the role of changing relative wages in industry labour market adjustment between 1948–49 and 1979–80. Not with standing Australia's highly centralized system of wage determination, it was found that it has permitted modest changes in wage relativities which were generally in the right direction. To the extent that these changes were sufficient to equilibrate the labour market this probably reflects some important changes in the composition of the labour force and the high elasticity of supply from one industry to another.

Date: 1983
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