From Golden Age to Golden Age: Australia's 'Great Leap Forward'?*

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Frijters, Paul and Gregory, Robert (2006) From Golden Age to Golden Age: Australia's 'Great Leap Forward'?*. The Economic Record, 82 (257). pp. 207-224. ISSN 0013-0249


The 25 years after World War II witnessed strong labour market institutions and beneficial labour market outcomes – high wage growth and integration of low-skilled immigrants. Then came the macro shocks of the mid-1970s. Labour market outcomes deteriorated as full-time employment–population ratios fell, particularly among men; unemployment and welfare use increased; and real wages grew slowly. The golden age passed. In response, successive governments have increasingly begun to dismantle the institutional framework. We address this transition within a simple long-run graphical framework to help us marshal facts and arguments and to discuss the likely impact of institutional reform.

Item type Article
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Subjects Historical > Faculty/School/Research Centre/Department > Centre for Strategic Economic Studies (CSES)
Historical > FOR Classification > 1402 Applied Economics
Historical > SEO Classification > 9199 Other Economic Framework
Keywords ResPubID18413, Australian labour market reforms, wage growth, welfare use
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