From Golden Age to Golden Age: Australia's "Great Leap Forward"?
The twenty-five years after WW 2 witnessed strong labour market institutions and beneficial labour market outcomes - high wage growth and integration of low-skilled immigrants. Then came the macro shocks of the mid 1970s. Labour market outcomes deteriorated as full-time employment population ratios fell, particularly among males; unemployment and welfare use increased; and real wages grew slowly. The golden age passed. In response, successive governments have increasingly begun to dismantle the institutional framework. We address this transition within a simple long run graphical framework to help us marshal facts and arguments and to discuss the likely impact of institutional reform.
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|Item Type:||Journal Article|
|Keywords:||Australian labour market reforms, unemployment, wages, productivity distributions, minimum wages, industrial relations, skill, biased technological change|
|Divisions:||Current > QUT Faculties and Divisions > QUT Business School|
|Copyright Owner:||Copyright 2006 Blackwell Publishing|
|Copyright Statement:||The definitive version is available at www.blackwell-synergy.com|
|Deposited On:||10 Jan 2007 00:00|
|Last Modified:||25 Mar 2015 02:33|
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