Gruen, David; Pagan, Adrian; Thompson, Christopher - Reserve Bank of Australia - 1999
. These include the distinction between the short and long-run trade-offs between inflation and unemployment, and the changing … level of the non-accelerating inflation rate of unemployment (NAIRU), particularly in the 1970s. We estimate Phillips curves … for prices and unit labour costs in Australia over the past three decades. These Phillips curves allow the NAIRU to change …