why Australia's dominant model of unemployment and inflation no longer works
- Written by John Quiggin, Professor, School of Economics, The University of Queensland
ShutterstockAs we approach the release of Monday’s employment white paper we can expect to hear a lot about something called the NAIRU – the so-called Non-Accelerating Inflation Rate of Unemployment.
This ungainly acronym, which currently dominates the thinking of both the Reserve Bank and the Treasury, derives its power almost...
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