Complete Papers
-“Edmund S. Phelps:
Interview”,
in Roads to Wisdom: Conversations with
Ten Nobel Laureates in Economics, Northampton, MA: Edward Elgar
Publishing
Limited, 2009.
-“Entrepreneurship, culture and
openness,” Edmund Phelps and Gylfi Zoega, in Entrepreneurship
and Openness: Theory and Evidence, Northampton,
MA: Edward Elgar Publishing, Inc., 2009.
-“Toward a Model of Innovation
and Performance Along the Lines of Knight, Keynes, Hayek, and M.
Polanyí,” in
Entrepreneurship, Growth, and Public Policy, Cambridge, England:
Cambridge
University Press, 2009.
-“The uncertain direction of the
world economy,” in Journal of Policy
Modeling, June 2009
-“Amidst ‘Theory Wars’ in
Twentieth-Century Economics,” in William Breit and Barry T. Hirsch ed.,
Lives of the Laureates: Twenty-three Nobel
Economists, Cambridge, MA, MIT Press, 2009.
-“Interest rate
setting in the
presence of investment prospects and Knightian uncertainty,” in Roger E.A. Farmer ed., Macroeconomics in
the Small and the Large, Northampton, MA, Edward Elgar, 2008.
-“Beware the Smothering of
Economic Dynamism”, Forbes, November
10, 2008.
-“The
Good Life and the Good Economy: The Humanist Perspective of
Aristotle, the Pragmatists and the Vitalists, and the Economic Justice
of John
Rawls”, in Arguments for a Better World:
Essays in Honor of Amartya Sen, ed. Kaushik Basu and Ravi.
Kanbur. Oxford: Oxford University
Press, 2008.
-“Corporatism and Keynes: His Philosophy of Growth,” L. Pecchi
and G.
Piga, eds., Revisiting Keynes: Economic
Possibilities for our Grandchildren, Cambridge, MA:
MIT Press, 1998, pages
95-104. From the conference Keynes’
General Theory after Seventy Years,
Santa Colomba (Siena),
July 4, 2006.
-“How Should Economists Model the Future?” Jean-Michel Lasry and
Damien
Fessler (eds.) Finance and Sustainable
Development: Opposition or Partnership? Paris, Economica, 2008.
-“A Structuralist Model of the Small Open Economy in the Short,
Medium
and Long Run,” with Hian Teck Hoon, Journal
of Macroeconomics, Vol. 29, June 2007, pp. 227-254.
-“Macroeconomics for a Modern Economy,” 2006
Nobel Prize Lecture in
Economics, American Economic Review,
97, 3, June 2007, 543-561; and in Les
Prix Nobel 2006, Stockholm: May 13, 2007.
-“The
Economic Performance of Nations: Prosperity Depends on Dynamism,
Dynamism on Institutions.” Conference on Entrepreneurship, Innovation
and the
Growth Mechanism of the Free-
-Market Economies. In Eytan Sheshinski, et al, ed., Entrepreneurship,
Innovation, and the Growth Mechanism of Free
Enterprise Economies, Princeton: Princeton University Press, 2007,
342-356.
-“Understanding the Great Changes in the World:
Gaining and Losing Ground Since World War
II,” Capitalism and Society, 1,2,
Article 2 (available at www.bepress.com/cas), September 2006.
-“Interest Rate Setting in the Presence of Investment Prospects
and
Knightian Uncertainty,” Lecture, Festschrift for Axel Leijonhufvud,
UCLA, Los Angeles,
August 30-31,
2006.
-“Great Catch-Ups and Fall-Backs I Have Seen: And Their
Misinterpretations,” Lecture, 14th World Congress,
International
Economic Assn., Marrakech, Sept. 2, 2005. Revised for Irish Economic
Association 20th Annual Conference, Bunclody, April 27, 2006.
-“The
Continent’s High
Unemployment: Possible Institutional Causes and Some Evidence,” Keynote
Lecture, Conference on Unemployment in Europe, CESifo, Munich, 1-2
December 2002. Published in
Martin Werding, (ed.), Structural
Unemployment in Western Europe: Reasons and Remedies, Cambridge, Mass.:
MIT Press, 2006, 53-74.
-“Changing
Prospects, Speculative Swings: The Links through Real Asset
Prices and Exchange Rates,” Reykjavik,
Conference on Swings and Growth, 11-12 June 2004. Revised version,
-“Prospective Shifts, Speculative Swings: “Macro” for the
Twenty-First
Century in the Tradition Chamiponed by Paul Samuelson” in Michael
Szenberg, et
al (ed.), Samuelson Economics and the
Twenty-First Century, Oxford:
Oxford University Press, 2006.
-“La
Contre-Performance de
l’Europe Continentale: Le lien entre institutions, dynamisme et
prospérité,” Revue de l’OFCE, 93, April
2005.
-“Capital
Subsidies versus Labor Subsidies: A Trade-Off between Capital
and Employment?” with Alberto Petrucci, Journal
of Money, Credit and Banking, 37, 5, October 2005, 907-22.
-“A Dynamic Theory of the China-U.S. Trade:
Making Sense of the
Imbalances,” with Amar Bhide, Working Paper no. 4, Center on Capitalism
and
Society, July 2005.
-“Economic Prosperity and the Dynamism of Economic Institutions,”
The
Shaw Distinguished Lecture, Singapore, 23 January 2003 and the Chatham
House
Lecture, London, 18 March 2003, in W. T. H. Koh and R. Mariano, eds., The Economic Prospects of Singapore,
Addison-Wesley/Pearson, Singapore, 2005, 299-333.
-‘Some
notes on monetary and unemployment,’ in Willi Semmler (ed), Monetary
Policy and Unemployment,
London: Routledge, 2005, 16-19.
-“The Structuralist Perspective on Real Exchange Rate, Share
Price Level
and Employment Path: What Room is Left for Money?” with Hian Teck Hoon
and
Gylfi Zoega. Conference on Monetary Policy and the Labor
Market in Honor of James Tobin,” in Willi Semmler,
ed., Monetary Policy and Unemployment,
London:
Routledge, 2005, 107-132.
-“Effects of China’s
Recent Development in the Rest of the World,” Journal of
Policy Modeling, 26, 8-9, December 2004, 903-910.
-“Employment, Inflation and Sustainable Growth,” Beijing May
Conference,
Renmin University, May 30, 2004.
-“The Boom and the Slump: a Causal Account of the 1990s/2000s and
the 1920s/1930s.”
Given at the Duke/UNC Economic History Conference, Understanding the
1990s: The
Economy in Long-Run Perspective, 26-27 March 2004. Journal
of Policy Reform, 7, no. 1, March 2004, 3-19.
-“What Structuralism Is – and What Errors and
Omissions of Supply-Side
and RBC Models It Avoids,” in K. Velupillai, ed., The
Fitoussi Festschrift, London:
Routledge, 2004.
-“Low
Wage Employment Subsidies in a Labor-Turnover Model of the ‘Natur
Rate’,” with Hian Teck Hoon, Columbia University,
Department of
Economics, Discussion Paper 9697-05, November 1996, revised November
1997,
January 1998. Prepared for the Russell Sage Foundation conference, Policies
to Increase Pay and Jobs among Less Advantaged Workers,
November 1997. Published in Phelps, ed., Designing
Inclusion: Tools to Raise Low-end Pay and Employment in Private
Enterprise,
Cambridge: Cambridge University
Press, 2003.
-“Introduction,” in Phelps, ed., Designing
Inclusion: Tools to Raise Low-end Pay and Employment in Private
Enterprise,
Cambridge, Cambridge University
Press, 2003.
-“Reflections on Parts III and IV,” in
Philippe Aghion, Roman Frydman,
Joseph Stiglitz and Michael Woodford, eds., Knowledge,
Information and Expectations: In Honor of Edmund
Phelps, Princeton, Princeton University Press,
2003, 550-563.
-“Reflections on Parts I and II,” in Philippe Aghion, Roman
Frydman,
Joseph Stiglitz and Michael Woodford, eds., Knowledge,
Information and Expectations: In Honor of Edmund
Phelps, Princeton, Princeton University Press,
2003,
271-81.
-“Asset
Prices, the Real Exchange Rate and Unemployment in a Small Open
Economy: A Medium-Run Structuralist Perspective,” in Arie Arnon and
Warren
Young, eds., The Open Economy Macromodel:
Past, Present and Future, Dordrecht
and Boston,
Kluwer Academic
Publishers, 2002.
-“Income Tax Cuts without
Spending Cuts: Hazards to Efficiency, Equity, Employment and Growth,” Journal of Policy Modeling, 24, no. 4,
July 2002, 391-399.
-“Balanced-Budget Restraint in Taxing Income from Wealth in the
Ramsey
Model” in Inequality and Tax Policy,
Washington D.C., American Enterprise Institute, 2001.
-“Structural Booms: Productivity Expectations and Asset Valuations,” Economic Policy, CEPR, 32, April 2001,
85-126.
-“Roots of the Recent Recoveries: Labor Reforms or Private Sector
Forces?” with J.-P. Fitoussi, D. Jestaz and G. Zoega, Brookings
Papers on Economic Activity, no. 1, 2000, 237-311
-‘Education and the natural rate of unemployment,’ with J. M.
Orszag and
G. Zoega, Oxford Economic Papers,
January 2000.
-‘Lessons in natural-rate dynamics,’ Oxford
Economic Papers, January 2000.
-“Behind
this Structural Boom: the Role of Asset Valuations,” American
Economic Review Papers and
Proceedings, 89, May 1999.
-“Effectiveness of Macropolicies in Small Open-Economy Dynamic
Aggregative Models,” in Wm. C. Brainard, Wm. D. Nordhaus and H. W.
Watts, eds.,
Money, Macroeconomics, and Economic
Policy: Essays in Honor of James Tobin, Cambridge, Mass.: MIT
Press, 1999.
-“Moral Hazard and Independent Income in a Modern
Intertemporal-Equilibrium Model of Involuntary Unemployment and
Mandatory
Retirement,” in G. Chichilnisky, ed., Markets,
Information and Uncertainty, Cambridge,
Cambridge
University Press,
1998.
-“Natural-rate theory and OECD unemployment,” with Gylfi Zoega, Economic Journal, 108, May 1998, 782-801.
-“The Rise and Downward Trend of the Natural Rate,” with Gylfi Zoega, American Economic Review Papers and
Proceedings, 87, May 1997.
-‘Growth, wealth and the natural rate: Is Europe’s jobs crisis a
growth
crisis?’ with Hian Teck Hoon, European
Economic Review, 41, April 1997.
-“Payroll Taxes and VAT in a Labor-Turnover Model of the ‘Natural
Rate’,” with Hian-Teck Hoon, International
Tax and Public Finance, v. 3, June 1996, 185-201.
-“Fiscal Policy and Economic
Activity in the Neoclassical Theory with and without Bequests,” with
George
Kanaginis, Finanz Archiv, 51 (New
Series), No. 2, 1994.
-“Pro-Keynesian and Counter-Keynesian Implications of the
'Structuralist' Theory of Unemployment and Interest under the Classic
Two‑Sector
View of Capital and Production,” in Taxation
in the United
States and Europe,
Anthonie Knoester, ed., London:
Macmillan, 1993. [Also Columbia
University,
Department of
Economics, Discussion Paper 494, August 1990.]
-“Macroeconomic Shocks in a Dynamized Model of the Natural Rate
of
Unemployment,” with Hian‑Teck Hoon, American
Economic Review, v.82 (September 1992).
-“Consumer Demand and Equilibrium Unemployment in a
Customer‑Market
Incentive‑Wage Economy,” Quarterly
Journal of Economics, v.106 (August
1992).
-“Testing 'Keynesian' Unemployment Theory against 'Structuralist'
Theory: Global Evidence from the Past Two Decades,” Issues
in Contemporary Economics: Proceedings of the 9th World Congress
of the International Economic Association, M. Nerlove, ed., London:
Macmillan, 1991
-"A Working Model of Slump and Recovery from Disturbances to
Capital‑Goods Demand in a Closed Non‑Monetary Economy," International
Monetary Fund, Research Department, Working Paper 88/92, August 23,
1988, pp.
16 + fig., in Edward J. Nell and Willi Semmler, eds., Nicholas
Kaldor and Mainstream Economics, London: Macmillan, 1991.
-“The Effects of Productivity, Total GDP Demand, and 'Incentive
Wages'
on Unemployment in a Non‑Monetary Customer‑Market Model of the Small
Open
Economy,” Scandinavian Journal of Economics,
vol. 92, 2 (March 1990).
-“Fiscal Stimulus and Employment at Home and Abroad in a Real
Two‑Country
Customer‑Market Model,” Rivista di
Politica Economica, v. 79 December 1989, 157‑181.
-“New Channels in the Transmission of Foreign Shocks,” in
Guillermo
Calvo, Ronald Findlay and others, eds., Debt,
Stabilization and Development: Essays in Memory of Carlos Diaz‑Alejandro.
Oxford:
Blackwell, 1989.
-“A Working Model of Slump and Recovery from Disturbances to
Capital‑Goods
Demand in an Open Non‑Monetary Economy,” American
Economic Review Papers and Proceedings, v. 78, no. 2 (May 1988).
-"Optimum Fiscal Policy When Monetary Policy is Bound by a
Rule," with K. Velupillai, in K.J. Arrow and M.J. Boskin, eds., The Economics of Public Debt,
(Macmillan, 1988, for the International Economics Association: London).
-"Causes of the 1980's Slump in Europe," with J.P. Fitoussi,
Brookings Papers on Economic Activity, Vol. 16, No. 2 (December 1986);
trans.
and adapted, "Politique economique aux Etats‑Unis et
croissance du chomage en Europe," Observations et
diognostics economiques,
No. 18, January 1987.
-"The Effectiveness of Macropolicies in a Small Open‑Economy
Dynamic Aggregative Model," Discussion Paper No. 63, Banca d'Italia,
May
1986; published in Money, Macroeconomics,
and Economic Policy: Essays in Honor of James Tobin, Wm. C.
Brainard, W. D.
Nordhaus, and H. W. Watts, eds., Cambridge, Mass: MIT Press, 1991.
-"Profits Theory and Profits Taxation," International Monetary
Fund Staff Papers, Vol. 33, December
1986.
-"The Significance of Customer Markets for the Effects of
Budgetary
Policy in Open Economies," International Institute for Economic
Studies,
Seminar Paper No. 315, University
of Stockholm.
Published, Annales d'Enomomie et de Statistique,
Vol. 1, No. 3 (September 1986). IIES Reprint Series No. 330.
-"The Trouble with Rational Expectations and the Problem of
Inflation Stabilization," in R. Frydman and E.S. Phelps, eds., Individual Forecasting and Aggregate
Outcomes:' Rational Expectations' Examined (Cambridge: Cambridge
University
Press, 1983).
-"Implicit Contracts and the Social Contract" in R. Dornbusch
and M.E. Simonson, eds., Inflation, Debt
and Indexation, (Cambridge, Mass., MIT Press, 1983).
-"Cracks on the Demand Side: A Year of Crisis in Theoretical
Macro
economics," American Economic Review
Papers and Proceedings, May 1982.
-"A Model of Non‑Walrasian General Equilibrium: Its Pareto
Inoptimality and Pareto Improvement," with Guillermo .A. Calvo.
Presented
at the Columbia‑Yale‑Brookings Conference in Memory of Arthur M. Okun,
September 1981. Published in James Tobin, ed., Macroeconomics,
Prices and Quantities: Essays in Memory of Arthur M.
Okun (Washington, D.C.: Brookings Institution, 1983).
-"Introduction: Taxation, Redistribution and Growth," in E.S.
Phelps, Studies in Macroeconomic Theory:
Volume 2, Redistribution and Growth
(New York: Academic Press, 1980).
-"Introduction: Developments in Non‑Walrasian Theory," in E.S.
Phelps, Studies in Macroeconomic Theory:
Vol 1, Employment and Inflation (New
York: Academic Press, 1979).
-"On the Concept of Optimal Taxation in the
Overlapping‑Generations
Model of Economic Growth," with J.A. Ordover, Journal of
Public Economics, Vol. 12 (August 1979)
-"Obstacles to Curtailing Inflation," Essays in
Post‑Keynesian Inflation, J.H. Gapinski and C.E.
Rockwood,eds., (Cambridge,
Mass.: Ballinger Pub. Co.,
1979).
-"Disinflation without Recession: Adaptive
Guideposts and Monetary
Policy," Weltwirtschaftliches Archiv.
Bank 114 (December 1978).
-"Trans‑National
Effects of Fiscal Shocks in a Two-Country
Model of Dynamic
Equilibrium," Journal of Monetary
Economics, Supplementary Volume 7 of the Carnegie-Rochester Series
on
Public Policy, North-Holland Pub. Co.,
1978.
-"Inflation Planning Reconsidered," Economica,
Vol. 45 (May 1978).
-"Commodity-Supply Shock and Full-Employment Monetary Policy,"
Journal of oney, Credit and
Banking, Vol. 10 (May
1978).
-“Rawlsian
Growth: Dynamic Programming of Capital Wealth for Intergeneration
'Maximin'
Justice,” with J.G. Riley, Review of Economic
Studies, Vol. 45 (February 1978).
-"Indexation
Issues: Comments on Fischer and Blinder," Journal
of Monetary Economics, Supplementary Volume 5 of the Carnegie-Rochester
Series
on Public Policy, Stabilization of the Domestic and
International Economy, North Holland
Pub. Co., 1977; and "Appendix:
Employment‑Contingent
Wage Contracts," with G. A. Calvo, idem. 149-167
-“Recent Development in Welfare Economics: Justice et Equite,” in
M.D.
Intrillagator, ed., Frontiers of
Quantitative Economics, Vol. III (Amsterdam: North‑Holland
Publishing Co.,
1977)
-“Stabilizing Powers of Monetary Policy under Rational
Expectations,”
with J.B. Taylor, Journal of Political
Economy, Vol. 85 (February 1977).
-“Linear 'Maximin' Taxation of Wage and Property Income on a
"Maximin'
Growth Path,” in B.A. Balassa and R.R. Nelson, eds., Economic
Progress, Private Values and Public Policy: Essays in Honor of
William Fellner (Amsterdam: North‑Holland, 1976).
-“Social Policy and Uncertain Careers: Beyond Rawls's Paradigm
Case," in R.E.Grieson, ed., Urban
and Public Economics: Essays in Honor of William Vickrey (Boston:
Lexington
Books, 1976).
-“Linear Taxation of Wealth and Wages for Intergenerational
Lifetime
Justice: Some Steady‑State Cases,” with J.A. Ordover, American
Economic Review, Vol 65 (September 1975).
-"Stopover Monetarism: Supply and Demand Factors in the 1972‑74
Inflation," in D. Meiselman, ed. The Phenomenon
of Worldwide Inflation, (American Enterprise Institute, Washington,
D.C.
1974); also in The Japan ‑ U.S. Assembly;
Proceedings of a Conference on Japan ‑ U.S. Economic Policy (AEI,
Washington, D.C., 1975).
-"The Indeterminacy of Game-Equilibrium Growth in the Absence of
an
Ethic," in E.S. Phelps, ed., Altruism, Morality and
Economic Theory (New York:
Basic Books, 1975).
-"Comment (on D.F.Gordon)," Journal of Money, Credit
and Banking, supplement, Vol. 6, (The
Phillips Curve and Labor Markets), 1976
-"Taxation of Wage Income for Economic Justice," Quarterly
Journal of Economics, Vol. 87
(August 1973); reprinted in E.S.Phelps, ed., Economic Justice
(Harmondworth:
Penguin, 1974).
-"Comment (On Stein/Infante)," Journal of Money,
Credit and Banking, Vol. 5, No. 1, Pt. 2
(February 1973).
-"Inflation in the Theory of Public Finance," Swedish
Journal of Economics (formerly Ekonomisk Tidschrift),
Vol. 2 (New
Series), No. 1 (January‑March 1973).
-"Some Macroeconomics of Population Leveling," Proceedings
of the U. S.
Commission on Population Growth and the American Future, 1972.
-“The Statistical Theory of Racism and Sexism,” American
Economic Review, Vol. 62 (December 1972); reprinted in
Alice Amsden, ed., The Economics of Women
and Work (Penguin, 1980).
-"Money, Public Expenditure and the Labor Supply," Journal
of Economic Theory, Vol. 5
(August 1972).
-“Inflation Expectations and Economic Theory,” in N. Swan and D. Wilton, eds., Inflation
and the Canadian Experience, Kingston, Ontario:
Industrial Relation Centre, Queen's University, 1971, pp. 31‑47.
-“Money, Public Debt,Inflation and Real Interest,” with E. Burmeister, Journal
of Money Credit and Banking, Vol. 3 (May 1971).
-"Optimal Price Policy under Atomistic Competition," with S.
G. Winter Jr., in E. S. Phelps, et al., Microeconomic
Foundations of Employment and Inflation Theory, New York: Norton,
1970.
-“Public Debt, Taxation and Capital Intensiveness,” with K.
Shell, Journal of Economic Theory,
Vol. 1 (October
1969).
-“Population Increase, Reply,” (to J. Isbister), Canadian
Journal of Economics, Vol. 2 (August 1969)
-“On Short Run Employment and Real Wage Rate Under
Market‑Clearing
Commodity Price,” International Economic
Review, Vol. 10 (June 1969).
-“The New Microeconomics in Inflation and Employment Theory,” American Economic Review:
Papers and
Proceedings,
Vol. 59 (May 1969); revised version in E.S. Phelps et
al., Microeconomic Foundations of
Employment and Inflation Theory, New York: Norton, 1970.
-“The Optimal Rate of Growth of Money: Comment,” Journal
of Political Economy, Vol. 76 (August 1968, Part 2).
-“Money‑Wage Dynamics and Labor‑Market Equilibrium,” Journal
of Political Economy, Vol. 76
(August 1968, Part 2); an altered version in E. S. Phelps, et al., Microeconomic Foundations of Employment and
Inflation Theory, (New York: Norton, 1970), reprinted in P.G.
Korliras and
R.S. Thorn, eds., Modern Macroeconomics
(New York, Harper and Row, 1979).
-“Population Increase,” Canadian
Journal of Economics, Vol. 35 (August 1968).
-“Phillips Curves, Expectations of Inflation and Optimal
Unemployment
over Time: Reply (to J.W. Williamson),” Economica,
Vol. 35 (August 1968).
-“On Second‑Best National Saving and Game‑Equilibrium Growth,”
with R.A.
Pollak, Review of Economic Studies,
Vol. 35 (April 1968).
-“Phillips Curves, Expectations of Inflation and Optimal
Unemployment
over Time,” Economica, Vol. 34
(August 1967)
-“A Model of Induced Invention, Growth and Distribution,” with
E.M.
Drandakis, Economic Journal, Vol. 76
(December 1966).
-“Investments in Humans,
Technological Diffusion and Economic Growth,” with R.R.
Nelson, American Economic
Review: Papers and Proceedings, Vol. 56 (May 1966), reprinted in
R.A.
Wykstra, ed., Human Capital Formation and
Manpower Development (New York, Free Press, 1971).
-"Models of Technical Progress and the Golden Rule of
Research," Review of Economic
Studies, Vol. 33 (April 1966).
-“Factor Price Frontier Estimation of a 'Vintage' Production
Model of
the Postwar U.S. Non‑Farm Business Sector,” with C. D. Phelps, Review of Economics and Statistics, Vol.
48 (August 1966).
-“Second Essay on the Golden Rule of Accumulation,” American
Economic Review
Vol. 55 (September 1965).
-“Anticipated Inflation and Economic Welfare,” Journal
of Political Economy, Vol. 73 (February 1965).
-“The New View of Investment: Reply (to
R.C.O. Matthews),” Quarterly Journal of Economics,
Vol. 78
(February 1964).
-“Substitution,
Fixed Proportions, Growth, and Distribution,” International
Economic Review, Vol. 4 (
September 1963).
-“The Golden Rule of Accumulation: Reply (to I.F.Pearce),” American Economic Review, Vol. 52
(December 1962).
-“The New View of Investment: A Neoclassical Analysis,” Quarterly Journal of Economics, Vol. 76
(November 1962); reprinted in J.E. Stiglitz and H. Uzawa, eds., Readings in the Theory of Economic Growth
(M.I.T. Press, 1969).
-"The Accumulation of Risky Capital: A Sequential Utility
Analysis,"
Econometrica, Vol. 30 (October 1962);
reprinted in D.H. Hester and J. Tobin, eds., Risk Aversion
and Portfolio Choice (Wiley, 1968); J.L. Bicksler and
P.A. Samuelson, eds., Investment
Portfolio Decision-Making (Lexington Books, 1974).
-“The Golden Rule of Accumulation: A Fable for Growthmen,” American Economic Review, vol. 51
(September 1961); reprinted in A.K. Sen, ed., Readings in
Economic Growth Theory (Penguin, 1969) and other
anthologies. Trans.: Hungarian, Japanese.
-“A Test for the Presence of Cost Inflation in the U.S.Economy
1955‑57,”
Yale Economic Essays, Vol.1 (January
1961).