Jonson, P.D.; McKibbin, W.J.; Trevor, R.G. - Reserve Bank of Australia - 1980
tight budgetary policies which help to bear down on inflation despite uncomfortably high unemployment. This paper examines … output and employment for only a couple of years. In the process, considerable inflation is generated, and this has strong … adverse effects on activty in the medium term. The assumptions examined are associated with the reaction of inflation to …