On The dynamic of search, matching and productivity in New Zealand and Australia

Weshah Razzak

MPRA Paper from University Library of Munich, Germany

Abstract: As far as we know there has been no, or very little, empirical examination of search models and unemployment – vacancy relationship in New Zealand. We empirically examine dynamic matching functions in the New Zealand labor market over the period 1986-2006. Further, it is well documented that although New Zealand and Australia embarked on similar wide economic reforms almost 25 years ago, the level of New Zealand’s labor productivity is still lower than that of Australia (Razzak, 2007) and lower than the US productivity level (Prescott, 2002). It is has been argued that among the main explanatory variable is the low level of capital intensity – capital per hour worked - Razzak (2007) and Hall and Scobie (2005). However, there has been no formal explanation for the low level of capital intensity. This paper explains why capital investments are relatively lower in New Zealand. We do this by examining the dynamics of the labor markets in New Zealand and Australia.

Keywords: Matching Function; Beveridge curve; Labor Productivity (search for similar items in EconPapers)
JEL-codes: C13 C22 J64 (search for similar items in EconPapers)
Date: 2008
New Economics Papers: this item is included in nep-dge, nep-eff and nep-lab
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (5)

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