John Quiggin · @johnquiggin
1963 followers · 933 posts · Server aus.socialI've been making this point a lot recently, thinking it was original, but @delong posted it more than a year ago. The accelerationist model of inflation from which the NAIRU is derived works only for the 1970s.
Earlier inflations in the 1950s, and the current #inflation don't fit the model at all well, in either US or Australia.
Pre-NAIRU Keynesian understanding of the Phillips curve saw strong aggregate demand as driving both lower unemployment and higher inflation.
In #NAIRU model, transmission mechanism is from (low) unemployment to wages to prices.
#inflation #nairu #EconTwitter
John Quiggin · @johnquiggin
1937 followers · 758 posts · Server aus.socialAppointment of Bullock as RBA Governor reaffirms #Labor's commitment to #NAIRU model, inlcuding need for unemployment above NAIRU to keep inflation down.
Labor has abandoned Full Employment, or redefined it out of existence. #econtwitter
But #RMITFactlab declined to list Albanese's commitment to a Full Employment Summit and White Paper as a promise, let alone assess whether it has been broken.
#labor #nairu #EconTwitter #rmitfactlab
n8chz ⒶⒺ · @n8chz
670 followers · 3703 posts · Server queer.party
acemaxx · @acemaxxanalytics
75 followers · 201 posts · Server econtwitter.net
Wow! @GitaGopinath “concerns about employment? How can we be concerned about resilience in the #labor market? full #employment is being abandoned -- #unemployment as bulwark against #inflation – #NAIRU is coming back roaring ---
#labor #employment #unemployment #Inflation #nairu
Kevin Karhan :verified: · @kkarhan
407 followers · 9326 posts · Server mstdn.social
gaby_wald · @gaby_wald
70 followers · 16249 posts · Server framapiaf.org#wikipedia #article "NAWRU" #emploi #chômage #inflation #salaire #NAIRU #NAWRU #économie #ChômageStructurel ... https://fr.wikipedia.org/wiki/NAWRU
#wikipedia #article #emploi #chômage #inflation #salaire #nairu #NAWRU #économie #ChômageStructurel
gaby_wald · @gaby_wald
74 followers · 16277 posts · Server framapiaf.org#wikipedia #article "NAWRU" #emploi #chômage #inflation #salaire #NAIRU #NAWRU #économie #ChômageStructurel ... https://fr.wikipedia.org/wiki/NAWRU
#ChômageStructurel #économie #NAWRU #nairu #salaire #inflation #chômage #emploi #article #wikipedia
gaby_wald · @gaby_wald
70 followers · 16249 posts · Server framapiaf.org#wikipedia #article "Taux de chômage n'accélérant pas l'inflation" #emploi #chômage #inflation #NAIRU #économie ... https://fr.wikipedia.org/wiki/Taux_de_ch%C3%B4mage_n%27acc%C3%A9l%C3%A9rant_pas_l%27inflation
#wikipedia #article #emploi #chômage #inflation #nairu #économie
gaby_wald · @gaby_wald
74 followers · 16277 posts · Server framapiaf.org#wikipedia #article "Taux de chômage n'accélérant pas l'inflation" #emploi #chômage #inflation #NAIRU #économie ... https://fr.wikipedia.org/wiki/Taux_de_ch%C3%B4mage_n%27acc%C3%A9l%C3%A9rant_pas_l%27inflation
#économie #nairu #inflation #chômage #emploi #article #wikipedia
gaby_wald · @gaby_wald
70 followers · 16249 posts · Server framapiaf.org#wikipedia #article "Courbe de Phillips" #chômage #inflation #NAIRU #keynes #monnaie #économie #emploi ... https://fr.wikipedia.org/wiki/Courbe_de_Phillips
#wikipedia #article #chômage #inflation #nairu #keynes #monnaie #économie #emploi
gaby_wald · @gaby_wald
74 followers · 16277 posts · Server framapiaf.org#wikipedia #article "Courbe de Phillips" #chômage #inflation #NAIRU #keynes #monnaie #économie #emploi ... https://fr.wikipedia.org/wiki/Courbe_de_Phillips
#emploi #économie #monnaie #keynes #nairu #inflation #chômage #article #wikipedia