Some searches may not work properly. We apologize for the inconvenience.
My bibliography Save this paperRecovering Keynesian Phillips curve theory
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Olivier Blanchard, 2018.
"Should We Reject the Natural Rate Hypothesis?,"
Journal of Economic Perspectives, American Economic Association, vol. 32(1), pages 97-120, Winter.
- Olivier J Blanchard, 2017. "Should We Reject the Natural Rate Hypothesis?," Working Paper Series WP17-14, Peterson Institute for International Economics.
- Mishkin, Frederic S, 1982.
"Does Anticipated Monetary Policy Matter? An Econometric Investigation,"
Journal of Political Economy, University of Chicago Press, vol. 90(1), pages 22-51, February.
- Frederic S. Mishkin, 1980. "Does Anticipated Monetary Policy Matter? An Econometric Investigation," NBER Working Papers 0506, National Bureau of Economic Research, Inc.
- Douglas Staiger & James H. Stock & Mark W. Watson, 1997. "The NAIRU, Unemployment and Monetary Policy," Journal of Economic Perspectives, American Economic Association, vol. 11(1), pages 33-49, Winter.
- Cross, Rod, 1993. "On the Foundations of Hysteresis in Economic Systems," Economics and Philosophy, Cambridge University Press, vol. 9(1), pages 53-74, April.
- N. Gregory Mankiw & Ricardo Reis, 2018.
"Friedman's Presidential Address in the Evolution of Macroeconomic Thought,"
Journal of Economic Perspectives, American Economic Association, vol. 32(1), pages 81-96, Winter.
- N. Gregory Mankiw & Ricardo Reis, 2017. "Friedman's Presidential Address in the Evolution of Macroeconomic Thought," NBER Working Papers 24043, National Bureau of Economic Research, Inc.
- N. Gregory Mankiw & Ricardo Reis, 2017. "Friedman’s Presidential Address in the Evolution of Macroeconomic Thought," Discussion Papers 1732, Centre for Macroeconomics (CFM).
- Reis, Ricardo & Mankiw, N. Gregory, 2018. "Friedman’s presidential address in the evolution of macroeconomic thought," LSE Research Online Documents on Economics 85664, London School of Economics and Political Science, LSE Library.
- Mankiw, N. Gregory & Reis, Ricardo, 2017. "Friedman's presidential address in the evolution of macroeconomic thought," LSE Research Online Documents on Economics 87163, London School of Economics and Political Science, LSE Library.
- Robert E. Hall & Thomas J. Sargent, 2018.
"Short-Run and Long-Run Effects of Milton Friedman's Presidential Address,"
Journal of Economic Perspectives, American Economic Association, vol. 32(1), pages 121-134, Winter.
- Robert E. Hall & Thomas J. Sargent, 2017. "Short-Run and Long-Run Effects of Milton Friedman's Presidential Address," NBER Working Papers 24148, National Bureau of Economic Research, Inc.
- George A. Akerlof & William T. Dickens & George L. Perry, 2000. "Near-Rational Wage and Price Setting and the Long-Run Phillips Curve," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 31(1), pages 1-60.
- Lucas, Robert Jr., 1972. "Expectations and the neutrality of money," Journal of Economic Theory, Elsevier, vol. 4(2), pages 103-124, April.
- Barro, Robert J & Grossman, Herschel I, 1971. "A General Disequilibrium Model of Income and Employment," American Economic Review, American Economic Association, vol. 61(1), pages 82-93, March.
- Paul Davidson, 1982. "Rational Expectations: A Fallacious Foundation for Studying Crucial Decision-Making Processes," Journal of Post Keynesian Economics, Taylor & Francis Journals, vol. 5(2), pages 182-198, December.
- Palley, Thomas, 2017.
"A theory of economic policy lock-in and lock-out via hysteresis: Rethinking economists' approach to economic policy,"
Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 11, pages 1-18.
- Palley, Thomas I., 2016. "A theory of economic policy lock-in and lock-out via hysteresis: Rethinking economists' approach to economic policy," Economics Discussion Papers 2016-50, Kiel Institute for the World Economy (IfW Kiel).
- William D. Nordhaus, 1975. "The Political Business Cycle," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 42(2), pages 169-190.
- Robert J. Gordon, 1977. "Can the Inflation of the 1970s be Explained?," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 8(1), pages 253-279.
- Kydland, Finn E & Prescott, Edward C, 1977. "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 473-491, June.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Mark Setterfield & Robert A. Blecker, 2022.
"Structural change in the US Phillips curve, 1948-2021: the role of power and institutions,"
Working Papers
2201, New School for Social Research, Department of Economics.
- Mark Setterfield & Robert A. Blecker, 2022. "Structural change in the US Phillips curve, 1948-2021: the role of power and institutions," FMM Working Paper 75-2022, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Mark Setterfield & Robert A Blecker, 2022. "Structural change in the US Phillips curve, 1948-2021: the role of power and institutions," Working Papers PKWP2208, Post Keynesian Economics Society (PKES).
- Saša Obradoviæ & Lela Ristiæ & Nemanja Lojanica, 2018. "Are unemployment rates stationary for SEE10 countries? Evidence from linear and nonlinear dynamics," Zbornik radova Ekonomskog fakulteta u Rijeci/Proceedings of Rijeka Faculty of Economics, University of Rijeka, Faculty of Economics and Business, vol. 36(2), pages 559-583.
- Philipp Heimberger, 2021. "Do higher public debt levels reduce economic growth?," FMM Working Paper 74-2021, IMK at the Hans Boeckler Foundation, Macroeconomic Policy Institute.
- Ricardo Summa & Julia Braga, 2020. "The (conflict-augmented) Phillips Curve is alive and well," Working Papers 0055, ASTRIL - Associazione Studi e Ricerche Interdisciplinari sul Lavoro.
- Ricardo Summa & Julia Braga, 2020. "Two routes back to the old Phillips curve: the amended mainstream model and the conflict augmented alternative," Bulletin of Political Economy, Bulletin of Political Economy, vol. 14(1), pages 81-115, June.
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Rod Cross & Douglas Strachan, 2001. "Three Pillars of Conventional Wisdom," Review of Political Economy, Taylor & Francis Journals, vol. 13(2), pages 181-200.
- Frederick van der Ploeg, 2005.
"Back to Keynes?,"
CESifo Economic Studies, CESifo Group, vol. 51(4), pages 777-822.
- van der Ploeg, Frederick, 2005. "Back to Keynes?," CEPR Discussion Papers 4897, C.E.P.R. Discussion Papers.
- Frederick Van der Ploeg, 2005. "Back to Keynes?," CESifo Working Paper Series 1424, CESifo.
- Oliver Landmann, 2022. "Stabilization Policy: A Turbulent Journey Through Time," Discussion Paper Series 42, Department of International Economic Policy, University of Freiburg, revised Sep 2022.
- Aguiar-Conraria, Luís & Martins, Manuel M.F. & Soares, Maria Joana, 2023. "The Phillips curve at 65: Time for time and frequency," Journal of Economic Dynamics and Control, Elsevier, vol. 151(C).
- Robert J. Gordon, 2011. "The History of the Phillips Curve: Consensus and Bifurcation," Economica, London School of Economics and Political Science, vol. 78(309), pages 10-50, January.
- Aurélien Goutsmedt, 2021.
"From the Stagflation to the Great Inflation: Explaining the US economy of the 1970s,"
Revue d'économie politique, Dalloz, vol. 131(3), pages 557-582.
- Aurélien Goutsmedt, 2020. "From the Stagflation to the Great Inflation: Explaining the US economy of the 1970s," Post-Print hal-03878374, HAL.
- Aurélien Goutsmedt & Goulven Rubin, 2018.
"Robert J. Gordon and the introduction of the natural rate hypothesis in the Keynesian framework,"
Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers)
halshs-01821825, HAL.
- Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the introduction of the natural rate hypothesis in the Keynesian framework," Post-Print halshs-01821825, HAL.
- Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the Introduction of the Natural Rate Hypothesis in the Keynesian Framework," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-02988080, HAL.
- Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the Introduction of the Natural Rate Hypothesis in the Keynesian Framework," Post-Print hal-02988080, HAL.
- Aurélien Goutsmedt & Goulven Rubin, 2018. "Robert J. Gordon and the introduction of the natural rate hypothesis in the Keynesian framework," Documents de travail du Centre d'Economie de la Sorbonne 18013, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
- Lucas Papademos, 2005. "Macroeconomic theory and monetary policy: the contributions of Franco Modigliani and the ongoing debate," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(233-234), pages 187-214.
- Akhand Akhtar Hossain, 2009. "Central Banking and Monetary Policy in the Asia-Pacific," Books, Edward Elgar Publishing, number 12777.
- Ruge-Murcia, Francisco J, 2003.
"Inflation Targeting under Asymmetric Preferences,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 35(5), pages 763-785, October.
- RUGE-MURCIA, Francisco .J., 2001. "Inflation Targeting Under Asymmetric Preferences," Cahiers de recherche 2001-04, Universite de Montreal, Departement de sciences economiques.
- Mr. Francisco Javier Ruge-Murcia, 2001. "Inflation Targeting Under Asymmetric Preferences," IMF Working Papers 2001/161, International Monetary Fund.
- Francisco J. Ruge-Murcia, 2001. "Inflation Targeting Under Asymmetric Preferences," Working Papers 0106, Banco de España.
- Ruge-Murcia, F.J., 2001. "Inflation Targeting Under Asymmetric Preferences," Cahiers de recherche 2001-04, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
- Thierry Warin, 2006. "A Note on Post-Modern Monetary Policy," Middlebury College Working Paper Series 0617, Middlebury College, Department of Economics.
- van Lelyveld, Iman, 1999. "Inflation or unemployment? Who cares?," European Journal of Political Economy, Elsevier, vol. 15(3), pages 463-484, September.
- Goutsmedt, Aurélien & Truc, Alexandre, 2023.
"An independent European macroeconomics? A history of European macroeconomics through the lens of the European Economic Review,"
European Economic Review, Elsevier, vol. 158(C).
- Aurélien Goutsmedt & Alexandre Truc, 2023. "An Independent European Macroeconomics? A History of European Macroeconomics through the Lens of the European Economic Review [Une macroéconomie européenne indépendante? Une histoire de la macroéco," Post-Print hal-04181833, HAL.
- Goutsmedt, Aurélien & Truc, Alexandre, 2023. "An Independent European Macroeconomics? A History of European Macroeconomics through the Lens of the European Economic Review," SocArXiv cn7am, Center for Open Science.
- Elke Muchlinski, 2005. "The Lucas Critique and Keynes Response.Considering the History of Macroeconomics," Macroeconomics 0503019, University Library of Munich, Germany.
- Stéphane Dupraz, 2024.
"A Kinked‐Demand Theory of Price Rigidity,"
Journal of Money, Credit and Banking, Blackwell Publishing, vol. 56(2-3), pages 325-363, March.
- Stephane Dupraz, 2017. "A Kinked-Demand Theory of Price Rigidity," 2017 Meeting Papers 387, Society for Economic Dynamics.
- S. Dupraz, 2017. "A Kinked-Demand Theory of Price Rigidity," Working papers 656, Banque de France.
- Luís Aguiar-Conraria & Manuel M. F. Martins & Maria Joana Soares, 2019.
"The Phillips Curve at 60: time for time and frequency,"
CEF.UP Working Papers
1902, Universidade do Porto, Faculdade de Economia do Porto.
- Luís Aguiar-Conraria & Manuel M. F. Martins & Maria Joana Soares, 2019. "The Phillips Curve at 60: time for time and frequency," NIPE Working Papers 04/2019, NIPE - Universidade do Minho.
- Aguiar-Conraria, Luís & Martins, Manuel M. F. & Soares, Maria Joana, 2019. "The Phillips Curve at 60: time for time and frequency," Bank of Finland Research Discussion Papers 12/2019, Bank of Finland.
- Frederic S. Mishkin, 2011. "Monetary Policy Strategy: Lessons from the Crisis," NBER Working Papers 16755, National Bureau of Economic Research, Inc.
- Thierry Warin, 2005. "Monetary Policy: From Theory to Practices," Middlebury College Working Paper Series 0508, Middlebury College, Department of Economics.
- Rod Cross, 2014.
"Unemployment: natural rate epicycles or hysteresis?,"
European Journal of Economics and Economic Policies: Intervention, Edward Elgar Publishing, vol. 11(2), pages 136-148, September.
- Cross, Rod, 2014. "Unemployment: natural rate epicycles or hysteresis?," SIRE Discussion Papers 2014-002, Scottish Institute for Research in Economics (SIRE).
- Rod Cross, 2014. "Unemployment: natural rate epicycles or hysteresis?," Working Papers 1402, University of Strathclyde Business School, Department of Economics.
- Feroli, Michael & Greenlaw, David & Hooper, Peter & Mishkin, Frederic S. & Sufi, Amir, 2017. "Language after liftoff: Fed communication away from the zero lower bound," Research in Economics, Elsevier, vol. 71(3), pages 452-490.
More about this item
Keywords
Natural rate of unemployment; Keynesian Phillips curve; Friedman; Tobin;All these keywords.
JEL classification:
- E00 - Macroeconomics and Monetary Economics - - General - - - General
- E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory
- E20 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - General (includes Measurement and Data)
- E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
- E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General
NEP fields
This paper has been announced in the following NEP Reports:- NEP-HPE-2018-07-16 (History and Philosophy of Economics)
- NEP-MAC-2018-07-16 (Macroeconomics)
- NEP-PKE-2018-07-16 (Post Keynesian Economics)
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imk:fmmpap:26-2018. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sabine Nemitz (email available below). General contact details of provider: https://edirc.repec.org/data/fmbocde.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.