Demystifying the Supply of Capital and Labour in a Nations Economic Chain
Public capital has been considered the wheels of economic activities of a nation or region. The reverse effects, the contributions of economic grown to public capital, are also worth analysis. The nonstructural vector auto-regression (VAR) approach is performed for the Australian economy using yearly data for the 1960-2008 period. The optimal lag is investigated to build the VAR model that is then tested for stability. The impulse response function is further employed to examine the response of one economic variable to the innovation of others and determine the lagged terms for the maximum absolute value of the other variables responses. The results will provide historical evidences for the federal and regional governments in Australia in estimating the effects among these production variables, in particular, the effect of infrastructure spending on the gross domestic products.
capital GDP impulse response function labour supply chain vector autoregression
ZHOU Jie David Picken LIU Chunlu
School of Architecture and Building, Deakin University, Geelong, Australia
国际会议
天津
英文
327-336
2009-12-12（万方平台首次上网日期，不代表论文的发表时间）