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This paper examines the determination of inflation in Australia and its four major trading partners – Japan, the United States, the United Kingdom and New Zealand. Also examined is the degree of inertia in the inflation rate i.e. the extent to which observed inflation deviates from its...
Persistent link: https://www.econbiz.de/10005426701
One of the most important features of the Australian economy in the past two decades has been the structural deterioration of labour market performance, reflected in both an increase in the average rate of unemployment and an outward shift in the Beveridge Curve, which depicts the relationship...
Persistent link: https://www.econbiz.de/10005426703
The recent debate on Australia’s current account imbalance has focused on two issue: whether the dynamics of current account deficits and debt accumulation are leading to a “debt trap”, and what role (if any) should public policy play in altering the current account outcome. In this paper,...
Persistent link: https://www.econbiz.de/10005398623
The optimal (labour market clearing) degree of wage indexation is derived from a simple neo-classical model, and is shown to be conditional on the variance of a number of supply and demand shocks, as well as the exchange rate regime. The model is estimated for nine industrial countries over the...
Persistent link: https://www.econbiz.de/10005232571