“Adaptive Expectations” of Milton Friedman and Monetarists and Phillips Curve; And the Comparison of them with Other Macroeconomic Schools-Reference-Cited by-同舟云学术

“Adaptive Expectations” of Milton Friedman and Monetarists and Phillips Curve; And the Comparison of them with Other Macroeconomic Schools

Published:2013-11 Issue:1 Volume:3 Page:
ISSN:2251-2888
Container-title:GSTF Journal on Business Review (GBR)
language:en
Short-container-title:GSTF J Bus Rev

Author:

Birol Özlen Hiç

Abstract

Abstract The focus of this article is the “adaptive expectations hypothesis” of Milton Friedman and his analysis of short-run and long-run Phillips Curve. In order to analyze these contributions of M. Friedman more clearly, discussions about the Phillips Curve and different views about this issue according to various macroeconomic schools and information about the evolution of the Phillips Curve Analysis are given. In this sense, apart from Milton Friedman and Monetarists, Phillips Curve was analyzed in a successive order compatible with the history of discussion within Keynes and Keynesian economics, New Keynesian Economics and New Classical School operating with “rational expectations hypothesis”.

Publisher

Springer Science and Business Media LLC

Link

https://link.springer.com/content/pdf/10.7603/s40706-013-0008-0.pdf

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