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- W2035294450 abstract "We construct a dynamic error correction model of the Australian labour market using a macroeconomic panel across seven states from 1972:3 to 1999:1. Long run equilibrium estimates support a real wageproductivity gap and an unemployment gap. The dynamic short-run estimates support expectations augmented Phillips curves for wages and prices, and Keynesian demand-led employment growth. We compare three procedures – pooled, aggregate and mean group estimates. Considerable heterogeneity existed across states in the pooled procedure, and state-level variables had a significant impact in the aggregate procedure. Out-of-sample aggregate forecast ing for the pooled, aggregate and mean group procedures indicate that the pooled one performs best." @default.
- W2035294450 created "2016-06-24" @default.
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- W2035294450 date "2007-01-15" @default.
- W2035294450 modified "2023-09-24" @default.
- W2035294450 title "To Pool or to Aggregate? Tests with a Dynamic Panel Macroeconometric Model of Australian State Labor Markets" @default.
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- W2035294450 doi "https://doi.org/10.2202/1935-1690.1365" @default.
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