Asymmetric unemployment rate dynamics in Australia

The unemployment rate in Australia is modelled as an assymmetric and non-linear function of aggregate demand, productivity, real wages and unemployment benefits. Negative changes in aggregate demand cause the unemployment rate to rise rapidly, while real wage rigidity contributes its to slow adjustment back towards a lower level of unemployment. The model is developed by exploiting recent developments in automated model-selection procedures.

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Year of publication:	2010-01-06
Authors:	Bårdsen, Gunnar ; Hurn, Stan ; McHugh, Zoë
Institutions:	School of Economics and Management, University of Aarhus
Subject:	unemployment \| non-linearity \| dynamic modelling \| aggregate demand \| real wages

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Extent:	application/pdf
Series:	CREATES Research Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	2 pages long
Classification:	C12 - Hypothesis Testing ; C52 - Model Evaluation and Testing ; C87 - Econometric Software ; E24 - Employment; Unemployment; Wages ; E32 - Business Fluctuations; Cycles
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008476281