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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.

Link to Published Version: http://dx.doi.org/10.1080/00779959509544243
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Abstract

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
Publisher: Routledge
Copyright: © 1995 New Zealand Association of Economists.
URI: http://researchrepository.murdoch.edu.au/id/eprint/29013
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