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1–7 of 7 collapsed search results for 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
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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
Alexander Ballantyne, Tom Cusbert, Richard Evans, Rochelle Guttmann, Jonathan Hambur, Adam Hamilton, Elizabeth Kendall, Rachael McCririck, Gabriela Nodari and Daniel Rees
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