Harry Johnson on the Phillips Curve

James Forder

No paper-803, Economics Series Working Papers from University of Oxford, Department of Economics

Abstract: It is noted that Harry G. Johnson was widely admired for his broad knowledge of economics, and particularly for the excellence and synthesizing quality of much of his writing. His discussions of the “Phillips curve†and related matters are considered. It is found that they are brief, inaccurate, and inconsistent. It is clear that, despite his reputation, they should not be treated as authoritative. It is further suggested that rather than supposing that Johnson’s knowledge and capabilities have been grossly exaggerated, it may be better to conclude that the Phillips curve was not nearly so important in the literature of the 1960s and 1970s as has been supposed.

Keywords: Phillips curve; Harry Johnson; expectations; Phillips curve; Phillips curve myth (search for similar items in EconPapers)
JEL-codes: B22 B29 E61 (search for similar items in EconPapers)
Date: 2016-09-01
New Economics Papers: this item is included in nep-his and nep-hpe
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Citations: View citations in EconPapers (1)

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