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The Rise and Fall and Fall of Keynesian Economics?

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  • ROBERT LEESON

Abstract

This paper examines the argument that Professor Blinder presented to the Bicentennial Australian Conference of Economists, that the Phillips curve is ‘alive and well’. It is argued below that Blinder's conclusion is, at best, unproven. It also highlights The Keynesian Recovery, outlined by Howitt and others, which has not resurrected the trade‐off interpretation of Phillips's work.

Suggested Citation

  • Robert Leeson, 1994. "The Rise and Fall and Fall of Keynesian Economics?," The Economic Record, The Economic Society of Australia, vol. 70(210), pages 262-266, September.
    • Handle: RePEc:bla:ecorec:v:70:y:1994:i:210:p:262-266
    DOI: 10.1111/j.1475-4932.1994.tb01846.x
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    File URL: https://doi.org/10.1111/j.1475-4932.1994.tb01846.x
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    References listed on IDEAS

    as
    1. Robert Leeson, 1993. "Policy-Induced Recessions: What Have We Learnt?," Economic Papers, The Economic Society of Australia, vol. 12(2), pages 85-96, June.
    2. repec:fth:harver:1470 is not listed on IDEAS
    3. Mankiw, N Gregory, 1990. "A Quick Refresher Course in Macroeconomics," Journal of Economic Literature, American Economic Association, vol. 28(4), pages 1645-1660, December.
    4. Alan S. Blinder, 1988. "The Fall and Rise of Keynesian Economics," The Economic Record, The Economic Society of Australia, vol. 64(4), pages 278-294, December.
    5. Robert Leeson, 1991. "Reply: The Validity Of The Expectations-Augmented Phillips Curve Model," Economic Papers, The Economic Society of Australia, vol. 10(2), pages 94-96, June.
    6. Friedman, Milton, 1977. "Nobel Lecture: Inflation and Unemployment," Journal of Political Economy, University of Chicago Press, vol. 85(3), pages 451-472, June.
    7. George L. Perry, 1983. "What Have We Learned about Disinflation," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 14(2), pages 587-602.
    8. A. W. Phillips, 1958. "The Relation Between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957," Economica, London School of Economics and Political Science, vol. 25(100), pages 283-299, November.
    9. Lucas, Robert E, Jr, 1981. "Tobin and Monetarism: A Review Article," Journal of Economic Literature, American Economic Association, vol. 19(2), pages 558-567, June.
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