A. W. H. Phillips: Collected Works in Contemporary Perspective

doi:10.1017/CBO9780511521980

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A. W. H. Phillips: Collected Works in Contemporary Perspective

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Edited by Robert Leeson, Murdoch University, Western Australia

Publisher:: Cambridge University Press
Online publication date:: May 2010
Print publication year:: 2000
Online ISBN:: 9780511521980
DOI:: https://doi.org/10.1017/CBO9780511521980

Subjects:: Economics, Economic Theory

46.99 (GBP)

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Virtually all of contemporary macroeconomics is underpinned by a Phillips curve of one variety or another; yet most of this literature displays a curious neglect of the theoretical dynamic stabilisation perspective provided by A. W. H. Phillips. This 2000 volume collected for the first time the major work of one of the great economists, integrating Phillips's empirical work with his theoretical contribution. In addition to twelve substantive chapters, twenty-nine economists including Lawrence Klein, James Meade, Thomas Sargent, Peter Phillips, David Hendry, William Baumol, Richard Lipsey and Geoffrey Harcourt highlight and interpret Phillips's ongoing influence. This volume also contains six of Phillips's previously unpublished essays, four of which were thought to have been lost. The fifth such essay (Phillips's second empirical Phillips curve) was previously an informal working paper of which few copies circulated, and the sixth essay is a forerunner of the Lucas Critique written by Phillips shortly before his death.

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A. W. H. Phillips: Collected Works in Contemporary Perspective

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Contents

Frontmatter
pp i-iv

Contents
pp v-ix

List of contributors
pp x-xi

Foreword by Arthur Brown
pp xii-xv

Preface by Robert Leeson
pp xvi-xviii

Part I - Bill Phillips: Some Memories and Reflections
pp 1-2

1 - A. W. H. Phillips: An extraordinary life
pp 3-17

2 - The versatile genius
pp 18-19

3 - To be his colleague was to be his friend
pp 20-21

4 - Phillips' adaptive expectations formula
pp 22-22

5 - Economist – washing machine fixer
pp 23-23

6 - Playing around with some data
pp 24-25

7 - The Festschrift
pp 26-28

Part II - The Phillips Machine
pp 29-30

8 - The origins of the machine in a personal context
pp 31-38

9 - The Phillips Machine as a ‘progressive’ model
pp 39-67

10 - Mechanical models in economic dynamics
pp 68-88

11 - The history of the Phillips Machine
pp 89-114

12 - Early reactions to Mark I and II
pp 115-117

13 - A superb explanatory device
pp 118-119

14 - The Phillips Machine and the history of computing
pp 120-126

Part III - Dynamic Stabilisation
pp 127-128

15 - The optimal control articles
pp 129-133

16 - Stabilisation policy in a closed economy
pp 134-168

17 - Stabilisation policy and the time-forms of lagged responses
pp 169-183

18 - Arnold Tustin's The Mechanism of Economic Systems: a review
pp 184-185

19 - Michel Kalecki's Theory of Economic Dynamics: An Essay on Cyclical and Long-Run Changes in the Capitalist Economy: a review
pp 186-188

20 - The growth articles
pp 189-194

21 - A simple model of employment, money and prices in a growing economy
pp 195-206

22 - Employment, inflation and growth
pp 207-223

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A. W. H. Phillips: Collected Works in Contemporary Perspective

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