October 20, 2006
Economist Wins Nobel Prize for Describing Key Roles of Long-Term Expectations
Edmund S. Phelps, a professor of political economy at Columbia University, will receive this year's Nobel Memorial Prize in Economic Science for his insights about how long-term expectations shape national economic conditions.
In three papers, written from 1967 to 1970, Mr. Phelps transformed the standard understanding of the trade-off between unemployment and inflation. During much of the 1960s, influenced by what is known as the Phillips Curve, policy makers had assumed that there
This is an article for subscribers only. You may access this article by purchasing a:
Digital or Print Subscription
Web Pass
Already have an account? Log In Now.
-
Administration

-
The Chronicle Review

-
Short Subjects


