Fed: Parliament left guessing on economic theory

From: AAP General News (Australia) | Date: February 18, 2008 | Copyright information

AAP General News (Australia)
02-18-2008
Fed: Parliament left guessing on economic theory

By Colin Brinsden, Economics Correspondent

CANBERRA, Feb 18 AAP - An unemployment rate below five per cent was once considered
inflationary, but economists hesitate to put an exact figure on that now as the jobless
rate continues to plunge.

And if federal Treasurer Wayne Swan knows the answer, he wasn't telling parliament today.

Mr Swan was put on the spot over this economic concept - the Non-Accelerating Inflation
Rate of Unemployment (NAIRU) - in today's question time.

If unemployment falls ...

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