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macroeconomics_and_the_phillips_curve_myth

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macroeconomics_and_the_phillips_curve_myth [2018/03/25 19:38]
will [Theory of wages, 1958]
macroeconomics_and_the_phillips_curve_myth [2018/03/25 19:48] (current)
will [Responses to Samuelson and Solow]
Line 83: Line 83:
 ===== Responses to Samuelson and Solow ===== ===== Responses to Samuelson and Solow =====
  
-Contemporary comments on the paper tend to conform to this reading: most cite the paper in support of the idea that the Phillips curve was not a stable phenomenon in America (e.g. Bronfenbrenner and Holzman, Shonfield, and Kuh).  The few that seem to have understood the paper as suggesting a stable relationship reject that view.  Many citations of the paper ignore ​their mention of the Phillips curve.+Contemporary comments on the paper tend to conform to this reading: most cite the paper in support of the idea that the Phillips curve was not a stable phenomenon in America (e.g. Bronfenbrenner and Holzman, Shonfield, and Kuh).  The few that seem to have understood the paper as suggesting a stable relationship reject that view.  Many citations of the paper ignore ​its mention of the Phillips curve.
  
 > [I]t does not appear that there is //any// author in that period who could be said to have adopted the idea that inflation is beneficial because of Samuelson and Solow'​s paper, nor any who could be said to have found in the article inspiration for inflationist policy. ((p43-44.)) > [I]t does not appear that there is //any// author in that period who could be said to have adopted the idea that inflation is beneficial because of Samuelson and Solow'​s paper, nor any who could be said to have found in the article inspiration for inflationist policy. ((p43-44.))
macroeconomics_and_the_phillips_curve_myth.txt ยท Last modified: 2018/03/25 19:48 by will