The Elasticity of Demand for Labour in Australia

The elasticity of demand for labour at the aggregate level is an important parameter for macroeconomic analysis. In particular, policy issues concerning the impact of wage falls on employment and unemployment hinge on the size of this parameter. It is argued in the present paper that previous work o...

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Bibliographic Details
Published inThe Economic record Vol. 78; no. 240; pp. 18 - 30
Main Authors Lewis, Philip E. T., MacDonald, Garry
Format Journal Article
LanguageEnglish
Published Oxford UK and Boston, USA Blackwell Publishers Ltd 01.03.2002
Blackwell Publishing Ltd
Subjects
Australia
Australian literature
Costs
Dependent variables
Economic models
Economics
Elasticity of demand
Employment
Error correction & detection
Estimates
Hypotheses
Labor market
Labour
Labour demand
Labour economics
Macroeconomics
Statistical analysis
Studies
Variables
Wages
Wages & salaries
Australia
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Summary:The elasticity of demand for labour at the aggregate level is an important parameter for macroeconomic analysis. In particular, policy issues concerning the impact of wage falls on employment and unemployment hinge on the size of this parameter. It is argued in the present paper that previous work on the elasticity of demand for labour in Australia has been unsatisfactory in a number of ways. A new set of estimates is provided that are derived using a better methodology than before.
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ArticleID:ECOR036
ObjectType-Article-2
SourceType-Scholarly Journals-1
ObjectType-Feature-1
content type line 23
ISSN:0013-0249
1475-4932
DOI:10.1111/1475-4932.00036