Insider Power as a Source of Hysteresis in Unemployment: Tests with Australian Data
作者:
NICOLAAS GROENEWOLD,
LEANNE TAYLOR,
期刊:
Economic Record
(WILEY Available online 1992)
卷期:
Volume 68,
issue 1
页码: 57-64
ISSN:0013-0249
年代: 1992
DOI:10.1111/j.1475-4932.1992.tb01749.x
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
This paper reports the results of an empirical investigation of hysteresis in the unemployment rate using Australian data for 1966(3)‐1988(4). It is found that there is not hysteresis in the strict sense of the irrelevance of the natural unemployment rate although there is strong evidence of insider power in the wage‐fixing process. There is no evidence that the Accord changed the extent of the influence of insider power on wage sett
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