Search: labour market
RBA Glossary definition for labour market
labour market – A collective term for employment, unemployment, participation rates and wages.
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MARTIN Has Its Place: A Macroeconometric Model of the Australian Economy
1 Aug 2019
RDP
2019-07
rate. The tightening of the labour market is likely to lead to an increase in wages growth. ... The state of the labour market – along with output prices and inflation expectations – determines wages.
https://www.rba.gov.au/publications/rdp/2019/2019-07/full.html
Core Equations
23 Aug 2019
RDP
2019-07
The estimation samples differ between equations. For most of the model's expenditure and labour market variables, such as consumption and the unemployment rate, our estimation samples begin in the 1980s ... We model the WPI using a Phillips curve approach
https://www.rba.gov.au/publications/rdp/2019/2019-07/core-equations.html
Introduction
23 Aug 2019
RDP
2019-07
The key elements of the model are the expenditure components of GDP, the labour market, the determinants of inflation and some financial market variables. ... Economic activity affects the demand for labour and so the degree of spare capacity in the
https://www.rba.gov.au/publications/rdp/2019/2019-07/introduction.html
Model Dynamics
23 Aug 2019
RDP
2019-07
The decline in aggregate demand and weaker labour market conditions contribute to a reduction in wages growth and inflation, which fall by a little less than 0.2 percentage points in ... years. The decline in economic activity reduces the demand for
https://www.rba.gov.au/publications/rdp/2019/2019-07/model-dynamics.html
References
23 Aug 2019
RDP
2019-07
Available at <>. Debelle G and J Vickery (1998), ‘The Macroeconomics of Australian Unemployment’, in G Debelle and J Borland (eds), Unemployment and the Australian Labour Market, Proceedings of a Conference, Reserve ... Hutchings R and M Kouparitsas
https://www.rba.gov.au/publications/rdp/2019/2019-07/references.html
A Stylised Description of the Model
23 Aug 2019
RDP
2019-07
Examples include interest rates, the exchange rate, the expenditure components of real GDP, labour market variables and inflation. ... The state of the labour market – along with output prices and inflation expectations – determines wages.
https://www.rba.gov.au/publications/rdp/2019/2019-07/a-stylised-description-of-the-model.html
What is MARTIN and What is it Used for?
23 Aug 2019
RDP
2019-07
As such, the model centres on the interactions between the expenditure components of GDP (such as consumption and investment), prices and the labour market. ... rate. The tightening of the labour market is likely to lead to an increase in wages growth.
https://www.rba.gov.au/publications/rdp/2019/2019-07/what-is-martin-and-what-is-it-used-for.html