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It is said that unemployed face high marginal tax rates and other disincentives to working. Discuss.
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Why despite a booming economy does Australia have a stubbornly high unemployment rate of around 6% What microeconomic reforms and welfare reforms might help reduce our NAIRU? It is said that unemployed face high marginal tax rates and other disincentives to working. Discuss. Although Australia's unemployment rate is at the lowest level it has been for thirteen years (Mellish, 2003), the unemployment rate has generally been stuck between six and eight percent for the best part of a decade (See Figure 1). At the same time, Australia's macroeconomic performance has been good according to world standards (Quiggin, 2003). Figure 1: Chart of Trend Unemployment Rate - Australian Bureau of Statistics (ABS) Figure 1 demonstrates that the trend unemployment rate fell rapidly from 10.7% in August 1993 to 8.1% in July 1995. The trend estimate then rose slowly, reaching 8.4% in February 1997, before falling to 6.1% in September 2000. After rising to...
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