Search: NAIRU
RBA Glossary definition for NAIRU
NAIRU – Non-accelerating inflation rate of unemployment
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Why Is Wage Growth So Low?
18 Jun 2015
Bulletin
– June 2015
Wage growth has declined markedly in Australia over the past few years. At the same time, stronger growth in labour productivity has worked to contain growth in labour costs. These developments reflect several factors, including spare capacity in
https://www.rba.gov.au/publications/bulletin/2015/jun/2.html
Specification Issues
31 Dec 2015
RDP
2015-14
of the unemployment rate from the NAIRU) rather than the change in the unemployment rate. ... Ballantyne et al's weighted median version of the NAIRU provided an even poorer fit to the data.
https://www.rba.gov.au/publications/rdp/2015/2015-14/specification-issues.html
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What Caused the Decline in US Business Cycle Volatility? | Conference – 2005
11 Jul 2005
Conferences
t. , where the unemployment gap is defined as the difference between the actual rate of unemployment and the natural rate (or NAIRU), which is allowed to vary over time. ... The time-varying NAIRU, or ‘TVN’, is estimated simultaneously with the
https://www.rba.gov.au/publications/confs/2005/gordon.html
Appendix A: Imperfect Competition Model of Inflation
1 Nov 1995
RDP
9509
Effect of wage shock on NAIRU and long-run real wage:. which is zero if firms price independently of demand and, therefore, β. ... 1. = 0. Effect of price shock on NAIRU and long-run real wage:.
https://www.rba.gov.au/publications/rdp/1995/9509/appendix-a.html
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The Australian Labour Market in the 1990s | Conference – 2000
21 Jun 1990
Conferences
There has been a recognition that the NAIRU can change by two types of mechanisms. ... Under the second mechanism, demand management can itself help to get the NAIRU down.
https://www.rba.gov.au/publications/confs/2000/dawkins.html
The Neutral Interest Rate
15 Sep 2017
Bulletin
– September 2017
Central banks monitor the neutral interest rate for a number of reasons, a key one being that it provides a benchmark for assessing the stance of monetary policy. This article describes the determinants of the neutral interest rate and discusses its
https://www.rba.gov.au/publications/bulletin/2017/sep/2.html
Insights into Low Wage Growth in Australia
16 Mar 2017
Bulletin
– March 2017
Recent low wage growth in Australia appears to be only partly explained by spare capacity in the labour market, the decline in inflation outcomes and the decline in the terms of trade from its 2011 peak. In this article, we present some tentative
https://www.rba.gov.au/publications/bulletin/2017/mar/2.html
Reflections on US Labour Market Performance | Conference – 1998
9 Jun 1998
Conferences
by a ‘natural rate of unemployment’ (also denoted the non-accelerating inflation rate of unemployment or NAIRU). ... Still, the natural rate hypothesis with a reasonably stable NAIRU and cyclical fluctuations in unemployment around the NAIRU seems to
https://www.rba.gov.au/publications/confs/1998/katz.html
Assessing Full Employment in Australia
18 Apr 2024
Bulletin
– April 2024
Full employment is a longstanding objective of monetary policy in Australia, alongside price stability.
https://www.rba.gov.au/publications/bulletin/2024/apr/assessing-full-employment-in-australia.html
Unemployment or Tax Reform? | Conference – 1998
9 Jun 1998
Conferences
How to lower the NAIRU from near 8 per cent to near 5 per cent? ... The unemployment equation has the long-run property that joblessness returns to the NAIRU.
https://www.rba.gov.au/publications/confs/1998/richardson-c.html