Titre :

Robert J. Gordon and the Introduction of the Natural Rate Hypothesis in the Keynesian Framework

Auteur(s) :

Goutsmedt, Aurélien [Auteur]
Rubin, Goulven [Auteur]
Lille économie management - UMR 9221 [LEM]

Titre de la revue :

History of Economic Ideas

Pagination :

157-187

Éditeur :

Istituti editoriali e poligrafici internazionali

Date de publication :

2018-01

Discipline(s) HAL :

Sciences de l'Homme et Société
Sciences de l'Homme et Société/Economies et finances

Résumé en anglais : [en]

This article studies the dissemination of the Natural Rate of Unemployment Hypothesis (nrh) in macroeconomics during the 1970s, by studying the reaction of Robert J. Gordon to the argument of Friedman (1968). In the early ...
Lire la suite >This article studies the dissemination of the Natural Rate of Unemployment Hypothesis (nrh) in macroeconomics during the 1970s, by studying the reaction of Robert J. Gordon to the argument of Friedman (1968). In the early 1970s, Gordon opposed the nrh, arguing that the estimated parameter on expected inflation was below one. Confronting to new data and to rising inflation, Gordon adopted the nrh after 1973. Nevertheless, the adoption anticipated any clear empirical proof. We explain that this conversion was due to Friedman’s influence on Gordon, but also to the fact it did not prevent Gordon to support active stabilization policies.Lire moins >

Langue :

Anglais

Comité de lecture :

Oui

Audience :

Internationale

Vulgarisation :

Non

Collections :

• Lille Économie Management (LEM) - UMR 9221

Source :

Harvested from HAL

Date de dépôt :

2021-11-13T01:55:47Z