The Micro Theory of the Phillips Curve Reconsidered: A Reply to Holmes and Smyth.

In this article, the author replies to comments made on the development of satisfactory micro underpinnings of the Phillips curve by J.M. Holmes and D.J. Smyth. The notion that every set of disequilibrium transactions must be determined by an intersection of demand and supply curves is contrary to t...

Full description

Bibliographic Details

Published in:	Economica Vol. 41; no. 161; pp. 62 - 71
Main Author:	Lipsey, Richard G.
Format:	Article
Published:	Wiley-Blackwell Feb74
Subjects:	Phillips curve Economics Demand function Lorenz curve Econometric models Supply & demand
Online Access:	View this record in EBSCOhost