Modelling Wages and Prices in Australia
Bardsen, Gunnar, Hurn, Stan, & McHugh, Zoe D. (2007) Modelling Wages and Prices in Australia. Economic Record, 83(261), pp. 143-158.
Abstract
This paper estimates a simultaneous-equation model of wages and prices for Australia, underpinned by a competing claims framework of imperfect competition. Two separate co-integrating relationships for wages and prices are identified by imposing the economic hypotheses implied by the theory. The steady-state relationships for wages and prices are then embedded in a parsimonious, dynamic wage-price model. The final model is both simple and parsimonious and able to describe the process of wage and price inflation in Australia
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| ID Code: | 32528 |
|---|---|
| Item Type: | Journal Article |
| DOI: | 10.1111/j.1475-4932.2007.00390.x |
| Subjects: | Australian and New Zealand Standard Research Classification > ECONOMICS (140000) > APPLIED ECONOMICS (140200) |
| Divisions: | Current > QUT Faculties and Divisions > QUT Business School Current > Schools > School of Economics & Finance |
| Deposited On: | 07 Jun 2010 12:14 |
| Last Modified: | 29 Feb 2012 23:33 |
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