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RBA Glossary definition for NAIRU

NAIRU – Non-accelerating inflation rate of unemployment

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Okun's Law and Potential Output

1 Dec 2015 RDP PDF 987KB
The non-accelerating inflation rate of unemployment (NAIRU) is typically estimated from a Phillips curve regression. ... An estimated increase in the NAIRU lowered ex post growth rates in the 1970s.

Reflections on US Labour Market Performance | Conference – 1998

9 Jun 1998 Conferences
Lawrence F. Katz
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

Causes of Inflation | Explainer | Education

4 May 2023
This series provides short, concise explanations for various economics topics.

The Nature of Economy | Education

4 May 2023
Listing of RBA educational resource material under the topic 'The Nature of Economy'

Insights into Low Wage Growth in Australia

16 Mar 2017 Bulletin – March 2017
James Bishop and Natasha Cassidy
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


26 Oct 2017 Speech
Guy Debelle
Speech delivered by Guy Debelle, Deputy Governor, for the 7th Warren Hogan Memorial Lecture, Sydney

Specification Issues

31 Dec 2015 RDP 2015-14
David Lancaster and Peter Tulip
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.
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RBAFOI-222342 - documents for release

10 May 2023 PDF 1755KB
How might a global recession impact Australia? 2nd September AIME & SAMM. 1. Overview• Global scenario: Advanced economy downturn. • Domestic impacts. • Conclusions. Advanced economy downturn• Consumer confidence falls due to lower real wages

Unemployment and Spare Capacity in the Labour Market

18 Sep 2014 Bulletin – September 2014
Alexander Ballantyne, Daniel De Voss and David Jacobs
The unemployment rate provides an important gauge of spare capacity in the labour market and the economy more generally. However, other factors also affect unemployment, which complicates its interpretation when informing monetary policy.

The Phillips Curve in Australia

1 Dec 2009 RDP PDF 491KB
the NAIRU account for a relatively smallamount of the movements in annual inflation. ... Figure 8: NAIRU from the Price Phillips Curve. One-sided NAIRU. Two-sidedNAIRU.