Tolerate unemployment, but blame the unemployed: the contradictions of NAIRU policy-making in Australia
There is a contradiction between Australian macroeconomic policy, which deliberately maintains unemployment at 5 per cent or higher, and a culture that blames unemployed people for their own unemployment and hardships. This research shows that there is no statistical evidence for the long-held assumption that if unemployment falls below its so-called 'natural' or non-accelerating inflation rate (the NAIRU), currently thought to be around 5 per cent unemployment, that inflation and wages will grow uncontrollably. The report concludes that Australia's controversial NAIRU concept and it's use in ... Show more
Authors: Richardson, David
Published: Canberra, Australian Capital Territory, Centre for Future Work, Australia Institute, 2019
Resource type: Report, paper or authored book
Physical description: 49 p.
Access item:
https://apo.org.au/node/267876
https://d3n8a8pro7vhmx.cloudfront.net/theausinstitute/pages/3111/attachments/original/1573673492/Tolerate_Unemployment_but_Blame_the_Unemployed_Formatted.pdf?1573673492
