Robert J. Gordon and the Introduction of ...
Type de document :
Article dans une revue scientifique
DOI :
Titre :
Robert J. Gordon and the Introduction of the Natural Rate Hypothesis in the Keynesian Framework
Auteur(s) :
Titre de la revue :
History of Economic Ideas
Pagination :
157-187
Éditeur :
Fabrizio Serra editore
Date de publication :
2018-01
ISSN :
1122-8792
Discipline(s) HAL :
Sciences de l'Homme et Société
Sciences de l'Homme et Société/Economies et finances
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 >
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 :
Source :