Inflation, Unemployment and the Nairu in Australia

Mark Crosby () and Nilss Olekalns ()

No 543, Department of Economics - Working Papers Series from The University of Melbourne

Abstract: 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 stable through our sample period. We also estimate the nonaccelerating inflation rate of unemployment (NAIRU), focussing on both the level of the NAIRU, and the stability and precision of our estimates.

Keywords: UNEMPLOYMENT; INFLATION; AUSTRALIA (search for similar items in EconPapers)
JEL-codes: E20 E24 E30 E31 E50 (search for similar items in EconPapers)
Date: 1997
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Related works:
Working Paper: Inflation, Unemployment and the NAIRU in Australia (1996)
Journal Article: Inflation, Unemployment and the NAIRU in Australia (1998)
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