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Structural Change and Labour Market Adjustment

  • Glenn Withers
  • John Freebairn
Part of the International Economic Association Series book series (IEA)

Abstract

This paper reviews the process of short-run adjustment in labour markets in response to structural change. A basic framework for analysis is presented and empirical tests of the role of wages in adjustment are considered. It is argued that conventional correlation tests are mis-specified. Alternative tests are therefore proposed and applied, providing support for the Tobin-Solow view of the labour market as one of disaggregate disequilibrium.

Keywords

Labour Market Industrial Relation Excess Demand Relative Wage Employment Change 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© International Economic Association 1983

Authors and Affiliations

  • Glenn Withers
    • 1
  • John Freebairn
    • 1
  1. 1.Australia

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