In this paper we investigate the relationship between inflation and unemployment in Australia, post 1959. We focus on two features of the data: firstly, we find that forecasting models are surprisingly through ou sample period. We also estimate the nonaccelaring inflation rate of unemployment (NAIRU), focussing on both the level of the NAIRU, and the stability and precision of our estimates. We find that estimates of the NAIRU range from as low as 2.3% to as high as 9.5% in Australia over this period.
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Paper provided by New South Wales - School of Economics in its series Papers with number
96/31.
Length: 13 pages Date of creation: 1996 Date of revision: Handle: RePEc:fth:nesowa:96/31
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Find related papers by JEL classification: E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
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