In economics, a Swan Diagram, also known as the Australian model (because it was originally published by Australian economist Trevor Swan in 1956 to model the Australian economy during the Great Depression), represents the situation of a country with a currency peg.
In economics, a Swan Diagram, also known as the Australian model represents the situation of a country with a currency peg, but failed to take into account the unemployment deficit in its model.
The Swan diagram takes into account the unemployment deficit. I wrote that it did not.