@TechReport{iza:izadps:dp2068, author={Frijters, Paul and Gregory, Bob}, title={From Golden Age to Golden Age: Australia's "Great Leap Forward"?}, year={2006}, month={Apr}, institution={Institute of Labor Economics (IZA)}, address={Bonn}, type={IZA Discussion Paper}, number={2068}, url={https://www.iza.org/publications/dp2068}, abstract={The twenty-five years after WW 2 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 males; 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.}, keywords={unemployment;wage growth;welfare use;institutional reform;Australia}, }