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RBA Glossary definition for NAIRU

NAIRU – Non-accelerating inflation rate of unemployment

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The Phillips Curve in Australia

1 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
Research Discussion Papers contain the results of economic research within the Reserve Bank
https://www.rba.gov.au/publications/rdp/1999/1999-01.html

Appendix D: Technical Issues Involved in Estimating the Kalman Filter

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
Recall that we are treating the NAIRU as a unit root process of the form:. ... when forming the estimated z. t. To derive an estimate of the NAIRU from z.
https://www.rba.gov.au/publications/rdp/1999/1999-01/appendix-d.html

Conclusion

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
It was not until a few years after 1973 that analysts became confident that the NAIRU had indeed risen significantly. ... Our results imply that the NAIRU in Australia rose from around 2 per cent in the late 1960s to around 6 per cent in the mid 1970s.
https://www.rba.gov.au/publications/rdp/1999/1999-01/conclusion.html

Introduction

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
Consequently, in Section 3, we examine the significant recent contribution of Debelle and Vickery (1997) in which the NAIRU is allowed to change through time. ... Our results imply estimates of the NAIRU in 1997 of around 5–7 per cent.
https://www.rba.gov.au/publications/rdp/1999/1999-01/introduction.html

Recent Work on the Phillips Curve

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
varying) level of the NAIRU simply from the behaviour of the unemployment rate. ... that were attributed to the NAIRU gap in Debelle and Vickery's specification.
https://www.rba.gov.au/publications/rdp/1999/1999-01/recent-work-on-the-phillips-curve.html

References

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
244–276. Downes, P. and G. Stacey (1996), ‘The NAIRU in the Treasury Macroeconomic (TRYM) Model of the Australian Economy: Definition, Measurement and Policy Implications’, paper prepared for the OECD Economic ... Gordon, R. (1997), ‘The
https://www.rba.gov.au/publications/rdp/1999/1999-01/references.html

The Phillips Curve and Monetary Policy

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
of the level of the NAIRU – in order to be able to assess the inflationary implications of any given rate of unemployment. ... The significant rise in the NAIRU is clear from both the price and unit labour cost Phillips curves (Figures 8 and 9).
https://www.rba.gov.au/publications/rdp/1999/1999-01/phillips-curve-and-monetary-policy.html

Appendix B: Exogeneity Assumptions Relevant to Estimating Phillips Curves

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
forecast inflation is much broader than that formed from the past history of inflation and the contemporaneous and lagged gaps between the unemployment rate and the NAIRU.
https://www.rba.gov.au/publications/rdp/1999/1999-01/appendix-b.html

Early Studies of the Australian Phillips Curve

31 Jan 1999 RDP 1999-01
David Gruen, Adrian Pagan and Christopher Thompson
t. with the difference between the unemployment rate U. t. and the NAIRU. , ... Furthermore, if the NAIRU is constant, Equation (6) may be re-written as:.
https://www.rba.gov.au/publications/rdp/1999/1999-01/early-studies-of-the-australian-phillips-curve.html