Phelps’ Lessons for Russia and for the World Economy (2006 Nobel Prize in Economics)

O. Zamulin

Voprosy Ekonomiki, 2007, issue 1

Abstract: The author describes the contribution to economic theory made by E. Phelps, the 2006 Nobel prize winner in economics. Phelps is one of those scientists, who studied the reasons, why the attempt to use Phillips curve for the purposes of monetary policy in the 1970s failed. He also became one of the founders of the New Keynesian theory of the Phillips curve. This theory helps to better understand the principles of monetary policy in the developed countries as well as in today’s Russia.

Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:nos:voprec:y:2007:id:1554

DOI: 10.32609/0042-8736-2007-1-55-65

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