The Cyclical Behaviour of Real Wages: Evidence from Australia

Table 1

Descriptive statistics of the cyclical components.

	𝜙^𝑝	𝜙^𝑤−𝑝	𝜙^𝑒	𝜙^𝑛	𝜙^𝑢
Minimum	−0.0023	−0.0094	−0.0065	−0.0041	−0.0030
Maximum	0.0029	0.0099	0.0060	0.0042	0.0036
Mean value	0.0083	−0.0047	0.0027	0.0019	0.0011
Std. Dev.	0.0072	0.0047	0.0033	0.1885	0.0137
Mean absolute value	0.6304	0.3958	0.2410	0.1604	0.1105
Mean absolute deviation from trend (%)	0.9951	0.6855	0.9200	0.1267	0.5950