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A. W. H. Phillips: Collected Works in Contemporary Perspective

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A. Brown, R. Leeson, J. Meade, H. Phelps-Brown, P. Cagan, E. Johnson, A. S. Schwier, B. Silvestone, W. Newlyn, D. Vines, A. W. Phillips, N. Barr, G. Dorrance, R. M. Goodwin, D. Swade, A. Pagan, A. R. Bergstrom, R. G. Lipsey, J. Pitchford, W. J. Baumol, L. R. Klein, S. J. Turnovsky, G. C. Harcourt, C. C. Holt, F. Shadman-Mehta, B. S. Yamey, P. Phillips, D. F. Hendry, G. E. Mizon, L. P. Hansen, T. J. Sargent, M. H. Quenouille, R. Court
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  • Date Published: October 2011
  • availability: Available
  • format: Paperback
  • isbn: 9780521168458

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  • Virtually all of contemporary macroeconomics is underpinned by a Phillips curve of one variety or another; yet most of this literature displays a curious neglect of the theoretical dynamic stabilisation perspective provided by A. W. H. Phillips. This 2000 volume collected for the first time the major work of one of the great economists, integrating Phillips's empirical work with his theoretical contribution. In addition to twelve substantive chapters, twenty-nine economists including Lawrence Klein, James Meade, Thomas Sargent, Peter Phillips, David Hendry, William Baumol, Richard Lipsey and Geoffrey Harcourt highlight and interpret Phillips's ongoing influence. This volume also contains six of Phillips's previously unpublished essays, four of which were thought to have been lost. The fifth such essay (Phillips's second empirical Phillips curve) was previously an informal working paper of which few copies circulated, and the sixth essay is a forerunner of the Lucas Critique written by Phillips shortly before his death.

    • Includes previously unseen papers from Bill Phillips' private collection
    • Important and original research on subject of great importance
    • Contributors are the most prestigious scholars working in economics and econometrics
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    Product details

    • Date Published: October 2011
    • format: Paperback
    • isbn: 9780521168458
    • length: 534 pages
    • dimensions: 229 x 152 x 30 mm
    • weight: 0.78kg
    • availability: Available
  • Table of Contents

    Foreword A. Brown
    Part I. Bill Phillips: Some Memories and Reflections:
    1. A. W. H. Phillips: an extraordinary life R. Leeson
    2. The versatile genius J. Meade
    3. To be his colleague was to be his friend H. Phelps-Brown
    4. Phillips' adaptive expectations formula P. Cagan
    5. Economist-washing machine fixer E. Johnson
    6. Playing around with some data A. S. Schwier
    7. The Festchrift B. Silvestone
    Part II. The Phillips Machine:
    8. The origins of the machine in a personal context W. Newlyn
    9. The Phillips machine as a 'progressive' model D. Vines
    10. Mechanical models in economic dynamics A. W. Phillips
    11. The History of the Phillips Machine N. Barr
    12. Early reactions to Mark I and II G. Dorrance
    13. A superb explanatory device R. M. Goodwin
    14. The place of the Phillips machine in the history of computing D. Swade
    Part III. Dynamic Stabilisation Optimal Control:
    15. The optimal control articles A. Pagan
    16. Stabilisation policy in a closed economy A. W. Phillips
    17. Stabilisation policy and the time-forms of lagged responses A. W. Phillips
    18. Arnold Tustin's The Mechanism of Economic Systems: a review A. W. Phillips
    19. The growth articles A. R. Bergstrom
    20. A simple model of employment, money and prices in a growing economy A. W. Phillips
    21. Employment, inflation and growth A. W. Phillips
    22. Economic policy and development A. W. Phillips
    23. The famous Phillips curve article R. G. Lipsey
    24. The relation between unemployment and the rate of change of money wage rates in the United Kingdom, 1861–1957 A. W. Phillips
    25. The Melbourne paper J. Pitchford
    26. Wage changes and unemployment in Australia, 1947–58 A. W. Phillips
    27. Phillips and stabilisation policy as a threat to stability W. J. Baumol
    28. The Phillips curve in macroeconomics and econometrics L. R. Klein
    29. Bill Phillips' contribution to dynamic stabilisation policy S. J. Turnovsky
    30. A left Keynesian view of the Phillips curve G. C. Harcourt
    31. Interactions with a fellow research engineer-economist C. C. Holt
    32. Does modern econometrics replicate the Phillips curve? F. Shadman-Mehta
    33. The famous Phillips curve article: a note on its publications B. S. Yamey
    Part IV. Econometrics Published Papers:
    34. The Bill Phillips legacy of continuous time modelling and econometric model design P. Phillips
    35. The published papers P. Phillips
    36. The influence of A. W. Phillips on econometrics D. F. Hendry and G. E. Mizon
    37. An appreciation of A. W. Phillips L. P. Hansen and T. J. Sargent
    38. Some notes on the estimation of time-forms of reactions in interdependent dynamic systems A. W. Phillips
    39. Cybernetics and the regulation of economic systems A. W. Phillips
    40. The estimation of parameters in systems of stochastic differential equation A. W. Phillips
    41. Estimation, regulation, and prediction in interdependent dynamic systems A. W. Phillips and M. H. Quenouille
    42. The Walras-Bowley paper A. Pagan
    43. Estimation of systems of difference equations with moving average disturbances A. W. Phillips
    Part V. Unpublished Papers:
    44. The estimation of continuous time models A. R. Bergstrom
    45. Estimation in continuous time series models with autocorrelated disturbances A. W. Phillips
    46. Efficient fitting of rational spectral density functions A. W. Phillips
    Part VI. Phillips' Foreshadowing of the Lucas Critique:
    47. The Lucas critique: did Phillips make a comparable contribution R. Court
    48. Models for the control of economic fluctuations A. W. Phillips
    49. Statistical estimation for the purpose of economic regulation A. W. Phillips
    50. The last paper: a foreshadowing of the Lucas critique? A. W. Phillips.

  • Editor

    Robert Leeson, Murdoch University, Western Australia

    Contributors

    A. Brown, R. Leeson, J. Meade, H. Phelps-Brown, P. Cagan, E. Johnson, A. S. Schwier, B. Silvestone, W. Newlyn, D. Vines, A. W. Phillips, N. Barr, G. Dorrance, R. M. Goodwin, D. Swade, A. Pagan, A. R. Bergstrom, R. G. Lipsey, J. Pitchford, W. J. Baumol, L. R. Klein, S. J. Turnovsky, G. C. Harcourt, C. C. Holt, F. Shadman-Mehta, B. S. Yamey, P. Phillips, D. F. Hendry, G. E. Mizon, L. P. Hansen, T. J. Sargent, M. H. Quenouille, R. Court

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