Westpac IQ
NAIRU: dead, undead or just resting?
February 20 2026 • 5 mins
Full employment objectives for central banks are common and long-standing. They are harder to assess than inflation objectives, and evolve as our understanding of the economy improves.
By
Luci Ellis
Chief Economist Westpac Group
- Luci Ellis Luci Ellis
- Martin Whetton Martin Whetton
- Robert Rennie Robert Rennie
- Elliot Clarke Elliot Clarke
- Matthew Hassan Matthew Hassan
- Justin Smirk Justin Smirk
- Mantas Vanagas Mantas Vanagas
- Kelly Eckhold Kelly Eckhold
- Damien McColough Damien McColough
- Jameson Coombs Jameson Coombs
- See all authors See all authors
20
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