Hostname: page-component-78c5997874-fbnjt Total loading time: 0 Render date: 2024-11-19T07:31:39.807Z Has data issue: false hasContentIssue false
  • English
  • Français

Strong on Policy Suggestions, but Weak on Analytical Framework: A Review of the Green Paper on Restoring Full Employment

Published online by Cambridge University Press:  01 January 2023

J.W. Nevile
J.W. Nevile*
Affiliation:
The University of New South Wales
Rights & Permissions [Opens in a new window]

Abstract

Core share and HTML view are not available for this content. However, as you have access to this content, a full PDF is available via the ‘Save PDF’ action button.

The Green Paper makes the fundamental point that rapid economic growth of around 4 to 5 percent a year is necessary to substantially reduce unemployment, but even 5 percent growth will not greatly reduce the numbers of long-term unemployed. Policies targeted specifically at this group are also necessary. Its analysis of the policies conducive to rapid economic growth and its arguments that things like more rapid productivity growth and reductions in the participation rate have little effect on unemployment in the medium to long run are supported by simulations of the Murphy model which assumes the results that the Green Paper argues that it demonstrates. On the other hand, the Green Paper is rich in policy suggestions to reduce long—term unemployment and to improve the working of the labour market. The Job Compact is central but improvements to social security and education and training are also important.

Type
Research Article
Information
The Economic and Labour Relations Review , Volume 4 , Issue 2 , December 1993 , pp. 241 - 256
Copyright
Copyright © The Author(s) 1993

References

Kyriakopoulos, J. (1991), “Does Moderate Inflation Affect Economic Growth?” in Johnson, M.R., Kriesler, P., Owen, A.D. (eds.) Contemporary Isssues in Australian Economics Macmillan, South Melbourne.Google Scholar
McTaggart, D. (1992), “The Cost of Inflation in Australia” in Blundell-Wignall, A. (ed.) Inflation, Disinflation and Monetary Policy Reserve Bank of Australia, Sydney.Google Scholar
Nevile, J.W. (1990), “Comments on Inflation: Performance and Policy” in Grenville, S. (ed.) The Australian Macro-economy in the 1980s, Reserve Bank of Australia, Sydney.Google Scholar