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Autobiography

Author

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  • Phelps, Edmund S.

    (Columbia University)

Abstract

For decades, my research was driven by outstanding problems in macroeconomics: mainly growth theory and employment theory. Then, around 1990, my research turned to the study of economic systems and my development as an economist took on added dimensions. This biography will start with my student period and go on to my new direction. The two periods seem to me to be linked and I will be drawing some of the connections. I will recount too the intervening period when macroeconomics was in revolution and I was one of the revolutionaries. So this biography gives my account of the battles that started in the 1960s between, on the one side, those economists who wanted macroeconomic models to have lifelike actors whose expectations and beliefs were causal forces and, on the other side, those who did not.

Suggested Citation

  • Phelps, Edmund S., 2007. "Autobiography," Nobel Prize in Economics documents 2006-3, Nobel Prize Committee.
    • Handle: RePEc:ris:nobelp:2006_003
    Note: From Les Prix Nobel. The Nobel Prizes 2006, Editor Karl Grandin, [Nobel Foundation], Stockholm, 2007
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    More about this item

    Keywords

    autobiography; macroeconomics;

    JEL classification:

    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E40 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - General
    • E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General

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