Question
Now using 'real world' quarterly data (seasonally adjusted) on Australia from a reliable source (e.g., Australian Bureau of Statistics), estimate a modified Phillips curve for
Now using 'real world' quarterly data (seasonally adjusted) on Australia from a reliable source (e.g., Australian Bureau of Statistics), estimate a modified Phillips curve for the years 1977-2019 using the regression tool in Microsoft Excel. Copy/paste the regression summary output from Excel. What is the estimated equation for the modified Phillips curve? Discuss the statistical significance of the model. What is the value of the natural rate of unemployment? Upload the dataset in a separate excel file on to Blackboard with your submission (the Excel file is not counted towards the page limit)
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