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The Place of the Phillips Curve in Macroeconomic Models

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  • Richard G. Lipsey

Abstract

This paper discusses the origin of the Phillips curve and its place in macro models; its theoretical underpinnings; the logic of the natural rate hypothesis; and the view that macro models can be closed by the expectations-augmented Phillips curve.

Suggested Citation

  • Richard G. Lipsey, 1976. "The Place of the Phillips Curve in Macroeconomic Models," Working Paper 215, Economics Department, Queen's University.
  • Handle: RePEc:qed:wpaper:215
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    Cited by:

    1. Mauro Boianovsky, 2005. "Some Cambridge reactions to The General Theory: David Champernowne and Joan Robinson on full employment," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 29(1), pages 73-98, January.

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