  A quantitative model is presented linking the rate of inflation and
unemployment to the change in the level of labor force. The link between the
involved variables is a linear one with all coefficients of individual and
generalized models obtained empirically. To achieve the best fit between
measured and predicted time series cumulative curves are used as a simplified
version of the 1-D boundary elements method. All models for Australia are
similar to those obtained for the US, France, Japan and other developed
countries and thus validate the concept and related quantitative model.
