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Labour Market Models of Unemployment in Australia

Jeff Borland () and Ian McDonald ()

Melbourne Institute Working Paper Series from Melbourne Institute of Applied Economic and Social Research, The University of Melbourne

Abstract: This paper reviews evidence on the equilibrium rate of unemployment and on causes of unemployment in Australia from empirical modelling of labour market outcomes. Three main types of models are reviewed - Phillips curve models; Multi-equation models; and Beveridge curve models. The paper begins with a simple review of labour market theory in order to provide some motivation for the empirical approaches that are examined. In the main part of the paper the three modelling approaches are reviewed. For each model the estimation methodology is described, main results on causes of unemployment from that approach are summarised, and an evaluation of the model is made.

Pages: 48 pages
Date: 2000-09
New Economics Papers: this item is included in nep-lab
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Persistent link: https://EconPapers.repec.org/RePEc:iae:iaewps:wp2000n15

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