A.W.H. Phillips is little known to the economics profession today, except at the creator of the Phillips curve. Bollard's engaging biography tells the story of a provincial New Zealander and practical engineer, who emerges as a hero in World War II, and plots a spectacular rise from 3rd class...

A.W.H. Phillips is little known to the economics profession today, except at the creator of the Phillips curve. Bollard's engaging biography tells the story of a provincial New Zealander and practical engineer, who emerges as a hero in World War II, and plots a spectacular rise from 3rd class...

To make the argument that the behaviour of modern industrial economies since the 1990s is inconsistent with theories in which there is a unique ergodic macro equilibrium, the paper starts by reviewing both the early Keynesian theory in which there was no unique level of income to which the...

This paper examines the views of Hyman Minsky and Abba Lerner on the functional finance approach to fiscal policy. It argues that the main principles of functional finance were relatively widely held in the immediate postwar period. However, with the rise of the Phillips curve, the return of the...

Samuelson and Solow in their 1960 paper in the American Economic Review: Papers and Proceedings were among the first economists to engage with Phillips' famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They addressed the question of the relevance of Phillips's...

The paper investigates the role played by Friedman's interpretation of the Brazilian inflation in his 1967 formulation of the natural rate hypothesis and in his 1976 discussion of indexation and other institutional arrangements in the face of chronic inflation. It is argued that, as an empirical...

In this review, I argue that Forder makes a fine job in debunking the story told by Friedman in his Nobel prize lecture about the Phillips curve yet fails to assess the validity of Phelps's and Friedman's contributions to the Phillips curve theory.

Samuelson and Solow in their 1960 paper in the American Economic Review: Papers and Proceedings were among the first economists to engage with Phillips' famous unemployment/wage-inflation analysis, now referred to as the Phillips curve. They addressed the question of the relevance of Phillips's...

Despite the transparency and independent operations of the central bank, the costly disinflation in the early nineties and the apparent lack of contemporaneous correlation between inflation and unemployment in the subsequent periods brings into question the validity of the Phillips curve...