Home‎ > ‎

Journal Articles

2019
Macro Perspectives: Bigger Problems than Corporate Governance,” with Bruce Greenwald and Joshua Mitts, Journal of Applied Corporate Finance 31, no. 3 (Summer 2019). 


A Vital People: A Necessity for a Good Economy,” Acta Oeconomica 69, S1 (January, 2019): 241-248. (Adapted from Honorary Causa Ceremony speech, Libera Università Internazionale degli Studi Sociali Guido Carli, Rome, Italy, January 18, 2018.)

 

2018
Misused Theories Behind Trump’s Economic Policies,” Capitalism and Society 13, no. 2 (December 2018).

Values, Institutions and the Rise of Eastern Europe,” with Gylfi Zoega, Economics of Transition Vol. 27, no. 1 (November 2018): 247–265.


"The Dynamism of Nations: Toward a Theory of Indigenous Innovation," Journal of Applied Corporate Finance 30, no. 3 (2018). Reprinted from Capitalism and Society 12, no. 1 (May 2017).


Turning Around the Downward Spiral of Economic, Social and Political Cohesion,” Global Solutions Journal 2 (September 2018): 232-240.


America’s Policy Thinking in the Age of Trump,Journal of Policy Modeling 40, no. 3 (April 2018): 509-514. Reprinted in Global Solutions Journal 1, (May 2018): 97-102.


2017
Dangers in a Repeat of Historic Corporatism,” Journal of Policy Modeling 39, no. 4 (July-August, 2017): 611 -615. 

"The Dynamism of Nations: Toward a Theory of Indigenous InnovationCapitalism and Society 12, no. 1 (May 4, 2017).

2016

"What Is Wrong with the West's Economies?," The New York Review of Books 62, no 13 (August 13, 2015): 54-56 Homo Oeconomicus 33, no. 1-2 (August, 2016): 3-10. Reprinted  from The New York Review of Books 62, no 13 (August 13, 2015): 54-56. 


2015
Hayek’s new ideas and present-day ones,” The Review of Austrian Economics 28, no. 3 (September 2015): 253-256. 

"What Is Wrong with the West's Economies?," The New York Review of Books 62, no 13 (August 13, 2015): 54-56. 

2014

Rekindling Innovation,” RSA Journal, iss. 2 (2014): 36-39.


2013

Mass Flourishing: How It Was Won, Then Largely Lost. Part 2,” OECD Insights (August 20, 2013).

 

Mass Flourishing: How It Was Won, Then Largely Lost,” OECD Insights (August 19, 2013).


Corporatism and Job Satisfaction,” with Gylfi Zoega, Journal of Comparative Economics 41, no. 1 (2013): 35-47.


2010

Post-crisis Economic Policies,Journal of Policy Modeling 32, no. 5 (September-October 2010): 596-603.

 

Wanted: A First National Bank of Innovation,” with Leo M. Tillman, Harvard Business Review (January-February 2010).


Capitalism vs. Corporatism,” Critical Review 21, no. 4 (January 11, 2010): 401-414.


2009

 "The Uncertain Direction of the World Economy," Journal of Policy Modeling 31, no. 4 (July-August 2009): 493-497.


2008

"Commentary: Revolutionary Times, Then and NowCapitalism and Society 3 (November 2008).

2007

A Structuralist Model of the Small Open Economy in the Short, Medium and Long Run,” with Hian Teck Hoon, Journal of Macroeconomics 29, no. 2 (June 2007): 227-254.


2006

Future Fiscal and Budgetary Shocks,” with Hian Teck Hoon, Journal of Economic Theory 143, (November  2006): 499-518.

 

Understanding the Great Changes in the World: Gaining and Losing Ground Since World War II,” Capitalism and Society 1, no. 2 (September 2006).


2005

"Savoir, information et anticipations en macroéconomie," trans. Guillaume Chevillon, Revue de l'OFCE 93, no. 2 (2004): 7-34.


La Contre-Performance de l’Europe Continentale: Le lien entre institutions, dynamisme et prospérité,” trans. Éloie Laurent, Revue de l’OFCE 92, no.1 (2005): 9-41.


Capital Subsidies versus Labor Subsidies: A Trade-Off between Capital and Employment?” with Alberto Petrucci, Journal of Money, Credit and Banking 37, no. 5 (October 2005): 907-922.


2004

Effects of China’s Recent Development in the Rest of the World,” Journal of Policy Modeling 26, no. 8-9 (December 2004): 903-910.


Searching for Routes to Better Economic Performance,” with Gylfi Zoega, CESifo Forum 5, no. 1 (March 2004): 3-11.


The Boom and the Slump: a Causal Account of the 1990s/2000s and the 1920s/1930s.” Journal of Policy Reform 7, no. 1 (March 2004): 3-19.


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.


2001

Structural Booms: Productivity Expectations and Asset Valuations,” Economic Policy 16, iss. 32 (April 2001): 85-126.


2000

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 (Washington, DC: Brookings Institution Press,  2000): 237-311.

 

Education and the Natural Rate of Unemployment,” with M. Francesconi, J. M. Orszag, and G. Zoega, Oxford Economic Papers 52, no. 1 (January 2000): 204-223.

 

Lessons in Natural Rate Dynamics,” Oxford Economic Papers 52, no. 1 (January 2000): 51-71.

 

The Importance of Inclusion and the Power of Job Subsidies to Increase it,OECD Economic Studies 31 (2000):85- 113.


1999

Lessons from the Corporatist Crisis in Some Asian Nations,” Journal of Policy Modeling 21, no. 3 (May 1999): 331-339.


Behind the Structural Boom: the Role of Asset Valuations,” American Economic Review 89, no. 2, Papers and Proceedings of the 111th Annual Meeting of the American Economic Assn. (May 1999): 63-68.


1998

Designing Capitalism for Fast Growth and High Employment,” Rivista Internazionale di Science Sociali 106 (October-December 1998): 501-513.


Designing a Capitalist Economy for Fast Growth and High Employment in Today’s Globalized World Economy,” Journal of Applied Economics 1 (November 1998): 87-103.


Natural-rate theory and OECD unemployment,” with Gylfi Zoega, Economic Journal 108, no. 448 (May 1998): 782-801.


1997

The Rise and Downward Trend of the Natural Rate,” with Gylfi Zoega, American Economic Review 87, no. 2, Papers and Proceedings of the 104th Annual Meeting of the American Economic Assn. (May 1997): 283-289.


A Strategy for Employment and Growth,” Rivista Italiana degli Economisti 2, no. 1 (April 1997): 121-128.


Growth, Wealth and the Natural Rate: Is Europe’s Jobs Crisis a Growth Crisis” with Hian Teck Hoon, European Economic Review 41 (April 1997): 549-557.


1996

Payroll Taxes and VAT in a Labor-Turnover Model of the ‘Natural Rate’,” with Hian-Teck Hoon, International Tax and Public Finance 3 (June 1996): 185-201.


1995

“Global vs. Domestic Factors in Postwar Italian Unemployment,” Proceedings of the Conference Commemorating Maffeo Panteleoni, Rivista di Politica Economica 85 (June 1995).   


The Structuralist Theory of Unemployment,” American Economics Review 85 (May 1995): 226-231.


1994

On the Damaging Side Effects of the Welfare System: How, Why, What to Do,Conclusions: to the 6th Annual Villa Mondragone Seminar: Equity, Efficiency and Growth -  the Future of the Welfare State, Rivista di Politica Economica 84, December 1994.


 “Fiscal Policy and Economic Activity in the Neoclassical Theory with and without Bequests,” with George Kanaginis, Finanz Archiv 51, no. 2 (1994): 137 -171.


Low-Wage Employment Subsidies v. The Welfare State,” American Economic Review 84, (May 1994): 54-58.


1993

Do the Main Structural Forces of the 1970s and 1980s Account for the 1990s Slump as Well?” with Gylfi Zoega; Conclusions: to the 5th Annual Villa Mondragone Seminar: Causes of the Present Unemployment, Rivista di Politica Economica 83 (December 1993).


“The Argument for Private Ownership and Control,” Appendix to EBRD Economic Review: World Economic Outlook (London, European Bank for Reconstruction and Development, September, 1993).


1992

“Conclusions: to the 4th Annual Villa Mondragone Seminar: Economic Growth,” Rivista di Politica Economica 82 (December 1992).


A Review of ‘Unemployment’ [by R. Layard, S. Nickell and R Jackman],” Journal of Economic Literature 30 (September 1992): 1483-97. 


Macroeconomic Shocks in a Dynamized Model of the Natural Rate of Unemployment,” with Hian-Teck Hoon, American Economic Review 82, no. 4 (September 1992): 889-900.

 

Consumer Demand and Equilibrium Unemployment in a Customer-Market Incentive-Wage Economy,” Quarterly Journal of Economics 107, no. 3 (August 1992):1003-1032.


1991

“Conclusions: to the 3rd Villa Mondragone Seminar: Mass Privatization in Eastern Europe,” Rivista di Politica Economica 81 (December 1991).


Proposed Reforms of the Economic System of Information and Decision in the USSR: Commentary and Advice,” with K. J. Arrow, Rivista di Politica Economica 81 (November 1991).


1990

Global Effects of Eastern European Rebuilding and the Adequacy of Western Saving: an Issue for the 1990s,” Rivista di Politica Economica 80 (December 1990).


“Conclusions: to the 2nd Annual Villa Mondragone Seminar: World Saving, Prosperity and Growth,” Rivista di Politica Economica 80, (December 1990).


Effects of Productivity, Total Domestic-Product Demand, and ‘Incentive Wages’ on Employment in a Non-Monetary Customer-Market Model of the Small Open Economy,” Scandinavian Journal of Economics 92, no. 2 (March 1990): 353-367.


1988

Comment on N. Gregory Mankiw’s ‘Recent Developments in Macroeconomics, A Very Quick Refresher Course’,” Journal of Money, Credit and Banking 20, no. 3 (August 1988): pp. 456-58.


A Working Model of Slump and Recovery from Disturbances to Capital-Goods Demand in an Open Non-Monetary Economy,” American Economic Review 78, no.2, Papers and Proceedings of the 100th Annual Meeting of the American Economic Assn. (May 1988): 346-350.


1987

Recent Studies of Speculative Markets in the Controversy over Rational Expectations,” Trans. French, Revue Francaise d’Economie 2, (Summer 1987).


1986
Causes of the 1980’s Slump in Europe,” with J.P. Fitoussi, Brookings Papers on Economic Activity 16, no. 2 (December 1986).

“The Effectiveness of Macropolicies in a Small Open-Economy Dynamic Aggregative Model,” Discussion Paper no. 63, Banca d’Italia, May 1986.

Profits Theory and Profits Taxation,” Staff Papers (International Monetary Fund) 33, no. 4 (December 1986): 674-696.


The Significance of Customer Markets for the Effects of Budgetary Policy in Open Economies,” Annales d’Enomomie et de Statistique 1, no. 3 (September 1986): 101-117. (Also International Institute for Economic Studies, Seminar Paper no. 315, University of Stockholm.)


1985

The Real Interest Rate Quiz,” Atlantic Economic Journal, Spring 1985.


“Uncertainties over the Economic Recovery of the United States,” Tocqueville Review 7 (1985/86).


"Comment on 'Dynamics of Unemployment, Vacancies and Real Wages with Trade Unions' by C. Pissarides," The Scandinavian Journal of Economics 87, No. 2, Proceedings of a Conference on Trade Unions, Wage Formation and Macroeconomic Stability (June, 1985): 408-410.

"Comment on H. Tson Söderström, 'Union Militancy, External Shocks and the Accommodation Dilemma,'" The Scandinavian Journal of Economics 87, No. 2, Proceedings of a Conference on Trade Unions, Wage Formation and Macroeconomic Stability (June, 1985): 355-356.

1982

Cracks on the Demand Side: A Year of Crisis in Theoretical Macroeconomics,” American Economic Review 72, no. 2, Papers and Proceedings of the 94th Annual Meeting of the American Economic Assn. (May, 1982): 378 -381.


A Fail Safe Design for Disinflation,” Atlantic Economic Journal, Spring 1982. 


1981

On Okun’s Micro-Macro System: A Review Article,” Journal of Economic Literature 19, Sept. 1981.


1980

"Stabilization Policy Ten Years After," with James Tobin, William Poole, Martin Feldstein, Hendrik Houthakker, Franco Modigliani, Patric Hendershott, Benjamin Friedman, George Perry, James Duesenberry, William Fellner, Robert Gordon, William Branson, Martin Baily and William Nordhaus, Brookings Papers on Economic Activity, No. 1, Tenth Anniversary Issue (1980): 19-89.


1979

Justice in the Theory of Public Finance,” The Journal of Philosophy 76, no. 11 (November 1979): 677-692. 

 

The Credibility Effect and Rational Expectations: Implications of the Gramlich Study,” with W. Fellner and R.J. Gordon, Brookings Papers on Economic Activitiy 1979, no. 1 (1979): 167-189.

 

 “The Concept of Optimal Taxation in the Overlapping-Generations Model of Capital and Wealth,” with J.A. Ordover, Journal of Public Economics 12, no.1 (August 1979):1-26. Repr. in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 301-327.

 

Trans-National Effects of Fiscal Shocks in a Two-Country Model of Dynamic Equilibrium,” Public Policies in Open Economies, Vol. 9 of the Carnegie-Rochester Conferences Series on Public Policy, a supplement series to the Journal of Monetary Economics, ed. K. Brunner and A. H. Meltzer (Amsterdam: North-Holland Publishing Co.,1978): 145-180. Rev. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation, Edmund Phelps (New York: Academic Press, 1979): 367-394.


1978

Commodity-Supply Shock and Full-Employment Monetary Policy,” Journal of Money, Credit and Banking 10, no. 2 (May 1978): 206-221. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979): 351-366.  

 

Inflation Planning Reconsidered,” Economica 45, 1978 (May 1978): 109-123. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979): 223- 237.

 

Stabilization Policy and Private Economic Behavior,” with M.N. Baily and B.M. Friedman, Brookings Papers on Economic Activity 1978, no. 1 (1978): 11-59.


Disinflation without Recession: Adaptive Guideposts and Monetary Policy,” Weltwirtschaftliches Archiv 114, (1978): 783-809. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979): 239- 265.

 

Rawlsian Growth: Dynamic Programming of Capital Wealth for Intergeneration ‘Maximin’ Justice,” with J.G. Riley, Review of Economic Studies 45 (February 1978):103-120. Repr. in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 237- 254.


1977

Indexation Issues: A Comments on the Blinder and Fischer Papers,” Stabilization of the Domestic and International Economy, Vol. 5 of the Carnegie-Rochester Series on Public Policy, a supplement series to the Journal of Monetary Economics, ed. K. Brunner and A. H. Meltzer (Amsterdam: North-Holland Publishing Co.,1977):149-159; “Appendix: Employment-Contingent Wage Contracts,” with G. A. Calvo, idem.: 149-167.  Repr. “Indexation Issues – Appendix,” in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation, Edmund Phelps (New York: Academic Press, 1979): 331- 350. 

 

Stabilizing Powers of Monetary Policy under Rational Expectations,” with J.B. Taylor, Journal of Political Economy 85, no. 1 (February 1977): 163-190. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979): 303- 330.  

 

Rational Taxation,” Social Research 44, no. 4 (Winter 1977): 657-667.

 

1976

Can the Inflation of the 1970s be Explained?,” with R.J. Gordon et. al., Brookings Papers on Economic Activity 1977, no. 1 (1977): 253-279.

 

Rational Expectations in the Macro Model,” with W. Poole and M. N. Baily, Brookings Papers on Economic Acitivity 1976, no. 2(1976):463-514.


Comment on the D.F. Gordon Paper,” The Phillips Curve and Labor Markets; Vol. 1 of the Carnegie-Rochester Conferences Series on Public Policy, a suppl. series to the Journal of Monetary Economics, ed. K. Brunner and A. H. Meltzer (Amsterdam: North-Holland Publishing Co.,1976): 123-126.


1975 

Linear Taxation of Wealth and Wages for Intergenerational Lifetime Justice: Some Steady-State Cases,” with J.A. Ordover, American Economic Review 65 (September 1975): 660-673. Repr. in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth,  Edmund Phelps (New York: Academic Press, 1980): 47-60.  


1974

Economic Policy and Unemployment in the 1960’s,”  The Public Interest 34 (Winter 1974).

 

1973

The Harried Leisure Class: A Demurrer,” The Quarterly Journal of Economics 87, no. 4 (November 1973):641-645. 

 

Taxation of Wage Income for Economic Justice,The Quarterly Journal of Economics 87, no. 3 (August 1973): 331-354. Repr. in Economic Justice, ed. Edmund Phelps (Harmondworth, UK: Penguin, 1974): 417-438; Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 261- 284.

 

Optimal Stabilization Paths: Comment” to J.L. Stein and E.F. Infante, Journal of Money, Credit and Banking 5, no. 1, pt. 2 (February 1973): 563-565.

 

Inflation in the Theory of Public Finance,” The Swedish Journal of Economics 75, no. 1 (March 1973): 67-82. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979):143- 158.

 

1972

The 1972 Report of the President’s Council of Economic Advisers: Economics and Government,” American Economic Review 62, no. 4 (September 1972): 533-539.

 

The Statistical Theory of Racism and Sexism,” American Economic Review 62, no. 4 (September 1972): 659-661. Repr. in The Economics of Women and Work, ed. Alice Amsden (Harmondsworth, UK: Penguin, 1980): 206-210.

 

Money, Public Expenditure and the Labor Supply,” Journal of Economic Theory 5, no.1 (August 1972): 69-78. Rev. “Money, Wealth, and Labor Supply” in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation, Edmund Phelps (New York: Academic Press, 1979): 109- 118.

 

1971

Money, Public Debt, Inflation and Real Interest,” with E. Burmeister, Journal of Money Credit and Banking 3, no. 2, pt. 1 (May 1971): 153-182. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979): 159- 188.

 

1969

Public Debt, Taxation and Capital Intensiveness,” with K. Shell, Journal of Economic Theory 1, no. 3 (October 1969): 330-346. Repr. in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth,  Edmund Phelps (New York: Academic Press, 1980): 29-46.  

 

Population Increase, Reply,” to J. Isbister, Canadian Journal of Economics 2, no. 3 (August 1969): 459 -461.

 

A Note on Short Run Employment and Real Wage Rate Under Competitive Commodity Markets,” International Economic Review 10, no.2 (June 1969): 220-232. Rev. “Short-Run Employment and Real Wage in Competitive Markets,” in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation, Edmund Phelps (New York: Academic Press, 1979): 63-76.

 

The New Microeconomics in Inflation and Employment Theory,” American Economic Review: Papers and Proceedings 59, no. 2 (May 1969): 147-160. Rev. in Microeconomic Foundations of Employment and Inflation Theory, Edmund Phelps et al. (New York: W.W. Norton, 1970): 1-23; “The Emerging Microeconomics in Employment Inflation Theory,” in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation, Edmund Phelps (New York: Academic Press, 1979): 77-90.


1968

Money-Wage Dynamics and Labor-Market Equilibrium,” Journal of Political Economy 76, no. 4, pt. 2 (August 1968): 678-711. Rev. in Microeconomic Foundations of Employment and Inflation Theory, Edmund Phelps, et al. (New York: W.W. Norton, 1970):124-166. Repr. in Modern Macroeconomics, eds. P.G. Korliras and R.S. Thorn (New York: Harper and Row, 1979): 213-241.

 

Notes on Optimal Monetary Growth and The Optimal Rate of Growth of Money: Comment,” to J. Tobin and A. L. Marty, Journal of Political Economy 76, no. 4, pt. 2 (July-August 1968): 881-885.

 

Population Increase,” The Canadian Journal of Economics 1, no. 3 (August 1968): 497-518. Repr. in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 141-162.

 

Phillips Curves, Expectations of Inflation and Optimal Unemployment over Time: Reply,” to J.W. Williamson, Economica 35, no. 139 (August 1968): 288-296.

 

On Second-Best National Saving and Game-Equilibrium Growth,” with R.A. Pollak, Review of Economic Studies 35, no. 2 (April 1968): 185-199. Repr. Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 201- 216.


1967

Phillips Curves, Expectations of Inflation and Optimal Unemployment over Time,” Economica 34, no. 135 (August 1967): 254-281. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979): 195- 222.


1966

A Model of Induced Invention, Growth and Distribution,” with E.M. Drandakis, Economic Journal 76, no. 304 (December 1966): 823-840. Rev. “Induced Invention, Growth and Distribution—,” in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth,Phelps (NY: Academic Press, 1980): 111-128.

 

Investments in Humans, Technological Diffusion and Economic Growth,” with R.R. Nelson, American Economic Review: Papers and Proceedings 56, no. 1-2 (May 1966): 69-75. Repr. in Human Capital Formation and Manpower Development, ed. R.A. Wykstra (New York, Free Press, 1971): 93-100; Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 133-140.

 

Models of Technical Progress and the Golden Rule of Research,” Review of Economic Studies 33, no. 2 (April 1966): 133-145.

 

Factor Price Frontier Estimation of a ‘Vintage’ Production Model of the Postwar U.S. Non-Farm Business Sector,” with C. Phelps, Review of Economics and Statistics 48, No. 3 (August 1966): 251 -265.


1965

Second Essay on the Golden Rule of Accumulation,” American Economic Review 55, no. 4 (September 1965):793-814.

 

Anticipated Inflation and Economic Welfare,Journal of Political Economy 73, no. 1 (February 1965): 1-17. Repr. in Studies in Macroeconomic Theory Vol. 1: Employment and Inflation,  Edmund Phelps (New York: Academic Press, 1979): 125- 142.


1964

The New View of Investment: Reply,” with M.E. Yaari to R.C.O. Matthews, Quarterly Journal of Economics 78, no. 1 (February 1964): 172-176


1963

Substitution, Fixed Proportions, Growth, and Distribution,” International Economic Review 4, no. 3 (September 1963): 265 -288. Repr. in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 87-110.  


1962

The End of the Golden Age in Solovia: Comment,” to I. F. Pierce, American Economic Review 52, no. 5 (December 1962): 1097 -1099.

 

The New View of Investment: A Neoclassical Analysis,” Quarterly Journal of Economics 76, no.4 (November, 1962): 548-567. Repr. in Readings in the Modern Theory of Economic Growth, eds. Joseph E. Stiglitz and Hirofumi Uzawa (Cambridge, MA: MIT Press, 1969). Rev. “The New View of Investment,” in Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 67-86. 


The Accumulation of Risky Capital: A Sequential Utility Analysis,” Econometrica 30, no. 4 (October 1962): 729-743. Repr. in Risk Aversion and Portfolio Choice, eds. D.H. Hester and J. Tobin (New York: Wiley, 1968): 139-153; Investment Portfolio Decision-Making, eds. J.L. Bicksler and P.A. Samuelson (Lexington, MA: Lexington Books, 1974); Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth, Edmund Phelps (New York: Academic Press, 1980): 169-184.


1961

The Golden Rule of Accumulation: A Fable for Growthmen,”American Economic Review 51, no. 4 (September 1961): 638-643.  Repr. in Readings in Economic Growth Theory, ed. Amartya K. Sen (Harmondsworth, UK: Penguin Books, 1970): 496- 533; Studies in Macroeconomic Theory Vol. 2: Redistribution and Growth,  Edmund Phelps (New York: Academic Press, 1980): 23-28.  

 

“A Test for the Presence of Cost Inflation in the U.S. Economy 1955-57,” Yale Economic Essays 1, no. 1 (New Haven, CT: Yale Press, January 1961): 28 -69.

Comments