Who is credited with developing the concept of the expectations-adjusted Phillips Curve?
Understand the Problem
The question is asking about the individual who is associated with the development of the expectations-adjusted Phillips Curve, indicating a need for knowledge in economics.
Answer
Edmund Phelps
Edmund Phelps is credited with developing the concept of the expectations-adjusted Phillips Curve.
Answer for screen readers
Edmund Phelps is credited with developing the concept of the expectations-adjusted Phillips Curve.
More Information
Edmund Phelps, alongside Milton Friedman, challenged the original Phillips Curve concept by incorporating expectations in its model, leading to the development of what is known today as the expectations-adjusted or expectations-augmented Phillips Curve.
Sources
- The Prize in Economic Sciences 2006 - Popular information - nobelprize.org
- 4.6 Expected inflation shifts the Phillips curve - CORE Econ - core-econ.org
AI-generated content may contain errors. Please verify critical information
