This groundbreaking series brings together a critical selection of key papers by the Nobel Memorial Laureates in Economics that have helped shape the development and present state of economics. The editors have organised this comprehensive series by theme and each volume focuses on those Laureates working in the same broad area of study.

Contents: Acknowledgements General Introduction PART I MILTON FRIEDMAN Introduction to Part I Howard R. Vane and Chris Mulhearn 1. Milton Friedman (1953a), ‘The Methodology of Positive Economics’ 2. Milton Friedman (1953b), ‘The Case for Flexible Exchange Rates’ 3. Milton Friedman (1956), ‘The Quantity Theory of Money – A Restatement’ 4. Milton Friedman and Anna J. Schwartz (1963), ‘Money and Business Cycles’ 5. Milton Friedman (1968), ‘The Role of Monetary Policy’ 6. Milton Friedman (1977), ‘Nobel Lecture: Inflation and Unemployment’ PART II ROBERT E. LUCAS Jr. Introduction to Part II Howard R. Vane and Chris Mulhearn 7. Robert E. Lucas, Jr. (1972), ‘Expectations and the Neutrality of Money’ 8. Robert E. Lucas, Jr. (1973), ‘Some International Evidence on Output-Inflation Tradeoffs’ 9. Robert E. Lucas, Jr. (1975), ‘An Equilibrium Model of the Business Cycle’ 10. Robert E. Lucas, Jr. (1976), ‘Econometric Policy Evaluation: A Critique’ 11. Robert E. Lucas, Jr. (1978), ‘Asset Prices in an Exchange Economy’ 12. Robert E. Lucas, Jr. (1988), ‘On the Mechanics of Economic Development’ PART III EDMUND S. PHELPS Introduction to Part III Howard R. Vane and Chris Mulhearn 13. Edmund S. Phelps (1961), ‘The Golden Rule of Accumulation: A Fable for Growthmen’ 14. Edmund S. Phelps (1966), ‘Models of Technical Progress and the Golden Rule of Research’ 15. Edmund S. Phelps (1967), ‘Phillips Curves, Expectations of Inflation and Optimal Unemployment Over Time’ 16. Edmund S. Phelps (1968), ‘Money-Wage Dynamics and Labor-Market Equilibrium’ 17. E.S. Phelps and R.A. Pollak (1968), ‘On Second-Best National Saving and Game-Equilibrium Growth’ 18. Edmund S. Phelps and John B. Taylor (1977), ‘Stabilizing Powers of Monetary Policy under Rational Expectations’ Name Index