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Author: Malcolm C. Sawyer
Publisher:
ISBN: 9780902169340
Category :
Languages : en
Pages :
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Book Description
Author: Malcolm C. Sawyer
Publisher:
ISBN: 9780902169340
Category :
Languages : en
Pages :
Get Book Here
Book Description
Author: Malcolm C. Sawyer
Publisher: Edward Elgar Pub
ISBN: 9781852781361
Category :
Languages : en
Pages : 256
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Book Description
This important new book is a critical appraisal of the Phillips Curve, its role within the economics profession and its influence on economic policy making. It is argued that the Phillips Curve has never been well based on either theoretical and empirical grounds. Professor Sawyer questions the reasons for the popularity of the Phillips Curve which has exercised a major influence in discussions of inflation and unemployment. He explores the purposes served by the Phillips Curve both within the economics profession and amongst a wider public.
Author: James Forder
Publisher: Oxford University Press, USA
ISBN: 0199683654
Category : Business & Economics
Languages : en
Pages : 321
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Book Description
This book reconsiders the role of the Phillips curve in macroeconomic analysis in the first twenty years following the famous work by A. W. H. Phillips, after whom it is named. It argues that the story conventionally told is entirely misleading. In that story, Phillips made a great breakthrough but his work led to a view that inflationary policy could be used systematically to maintain low unemployment, and that it was only after the work of Milton Friedman and Edmund Phelps about a decade after Phillips' that this view was rejected. On the contrary, a detailed analysis of the literature of the times shows that the idea of a negative relation between wage change and unemployment - supposedly Phillips' discovery - was commonplace in the 1950s, as were the arguments attributed to Friedman and Phelps by the conventional story. And, perhaps most importantly, there is scarcely any sign of the idea of the inflation-unemployment tradeoff promoting inflationary policy, either in the theoretical literature or in actual policymaking. The book demonstrates and identifies a number of main strands of the actual thinking of the 1950s, 1960s, and 1970s on the question of the determination of inflation and its relation to other variables. The result is not only a rejection of the Phillips curve story as it has been told, and a reassessment of the understanding of the economists of those years of macroeconomics, but also the construction of an alternative, and historically more authentic account, of the economic theory of those times. A notable outcome is that the economic theory of the time was not nearly so naive as it has been portrayed.
Author: Thomas D. Willett
Publisher: Duke University Press
ISBN: 9780822308423
Category : Business & Economics
Languages : en
Pages : 554
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Book Description
"A Pacific Research Institute for Public Policy book." Includes bibliographies and index.
Author: David E. W. Laidler
Publisher: London, Ont. : Department of Economics, University of Western Ontario
ISBN:
Category : Inflation (Finance)
Languages : en
Pages : 44
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Author: Fred Hirsch
Publisher:
ISBN: 9780674685840
Category : Business & Economics
Languages : en
Pages : 324
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Book Description
Author: James E. Alt
Publisher: Univ of California Press
ISBN: 9780520049833
Category : Business & Economics
Languages : en
Pages : 292
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Author: Jeff Fuhrer
Publisher: MIT Press
ISBN: 026225820X
Category : Business & Economics
Languages : en
Pages : 517
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Book Description
Current perspectives on the Phillips curve, a core macroeconomic concept that treats the relationship between inflation and unemployment. In 1958, economist A. W. Phillips published an article describing what he observed to be the inverse relationship between inflation and unemployment; subsequently, the “Phillips curve” became a central concept in macroeconomic analysis and policymaking. But today's Phillips curve is not the same as the original one from fifty years ago; the economy, our understanding of price setting behavior, the determinants of inflation, and the role of monetary policy have evolved significantly since then. In this book, some of the top economists working today reexamine the theoretical and empirical validity of the Phillips curve in its more recent specifications. The contributors consider such questions as what economists have learned about price and wage setting and inflation expectations that would improve the way we use and formulate the Phillips curve, what the Phillips curve approach can teach us about inflation dynamics, and how these lessons can be applied to improving the conduct of monetary policy. Contributors Lawrence Ball, Ben Bernanke, Oliver Blanchard, V. V. Chari, William T. Dickens, Stanley Fischer, Jeff Fuhrer, Jordi Gali, Michael T. Kiley, Robert G. King, Donald L. Kohn, Yolanda K. Kodrzycki, Jane Sneddon Little, Bartisz Mackowiak, N. Gregory Mankiw, Virgiliu Midrigan, Giovanni P. Olivei, Athanasios Orphanides, Adrian R. Pagan, Christopher A. Pissarides, Lucrezia Reichlin, Paul A. Samuelson, Christopher A. Sims, Frank R. Smets, Robert M. Solow, Jürgen Stark, James H. Stock, Lars E. O. Svensson, John B. Taylor, Mark W. Watson
Author: Bob Rowthorn
Publisher: London : Lawrence and Wishart
ISBN:
Category : Political Science
Languages : en
Pages : 288
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Book Description
Author: Douglas A. Hibbs
Publisher: Cambridge, Mass. : Harvard University Press
ISBN:
Category : Business & Economics
Languages : en
Pages : 352
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Book Description
