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The Australian Phillips curve and more

By Ivan Kitov and Oleg Kitov


A quantitative model is presented linking the rate of inflation and unemployment to the change in the level of labor force. The link between the involved variables is a linear one with all coefficients of individual and generalized models obtained empirically. To achieve the best fit between measured and predicted time series cumulative curves are used as a simplified version of the 1-D boundary elements method. All models for Australia are similar to those obtained for the US, France, Japan and other developed countries and thus validate the concept and related quantitative model.

Topics: J21 - Labor Force and Employment, Size, and Structure, E6 - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, Macroeconomic Policy, and General Outlook, E3 - Prices, Business Fluctuations, and Cycles
Year: 2011
DOI identifier: 10.2139/ssrn.1759197
OAI identifier:

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