A. W. H. Phillips: His machine and his curve
Leeson, R. (1995) A. W. H. Phillips: His machine and his curve. New Zealand Economic Papers, 29 (2). pp. 231-243.
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This paper re-examines Phillips’ work on stabilisation policy by placing his empirical curve in the context of his macroeconomic Machine (now on display at the Science Museum in London and elsewhere) and his sophisticated Phillips curve theory, suggesting that the inflation-unemployment trade-off is a misinterpretation of Phillips’ curve.
|Publication Type:||Journal Article|
|Copyright:||© 1995 New Zealand Association of Economists.|
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