A Prototype Demo-Economic Model with an Application to Queensland

Publisher Website
Google Scholar
Abstract
Intensive, extensive, redistributive, and transitional types of income changes are consistently combined in a comparative static demo-economic interindustry model which theoretically covers all household consumption expenditures and which uses the vacancy-chain approach to model mobility at the labor market. The comparative static version developed for impact studies is applied to the state of Queensland. It is a truncated version of the general model which contains all the lagged endogenous variables needed to make projections for an entire economy. The application shows the vacancy-chain submodel to be especially relevant for immigration estimates.