Abstract
In the article I examine how model builders from the academia and from the Federal Reserve Board confronted the Phillips curve in the construction and subsequent modifications of the Federal Reserve, MIT, and University of Pennsylvania macroeconometric model. It is argued that academic debates on Milton Friedman’s and Edmund Phelps’s accelerationist hypothesis, and the evolution of the macroeconomics discipline, did not affect the model-building agenda at the Division of Research and Statistics at the Board over the 1970s and 1980s.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callSimilar Papers
More From: Journal of the History of Economic Thought
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
