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Living in the 70s: why Australia's dominant model of unemployment and inflation no longer works

  • Written by The Conversation
Living in the 70s: why Australia's dominant model of unemployment and inflation no longer worksShutterstock

As 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...

Read more: Living in the 70s: why Australia's dominant model of unemployment and inflation no longer works

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