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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.

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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

Impact and interest:

3 citations in Scopus
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3 citations in Web of Science®

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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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