People

Prof. Philippe Aghion is Robert C. Waggoner Professor of Economics at Harvard University, Program Director in Industrial Organization at CEPR, and Fellow at NBER and IFS. He is one of the most prolific and influential economists of his generation. He focuses much of his attention on the relationship between economic growth and policy. By focusing explicitly on innovations as a main source of economic growth, this approach opens the door to a deeper understanding of how organizations, competition policy, education, savings and the financial system, and macroeconomic policy both affect and are affected by growth, through how these interact with local entrepreneurs' incentives to either innovate or to imitate the frontier technologies. In the process of trying to link growth and organizations, Prof. Aghion has also contributed to the field of contract theory and corporate governance. His work concentrates on the question of how to allocate authority and control rights within a firm, or between entrepreneurs and investors.

In addition to his academic research, Prof. Aghion has been associated with the European Bank for Reconstruction and Development (EBRD) since 1990. He is also managing editor of the journal The Economics of Transition, which he launched in 1992.

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Publications

  • Knowledge, Information, and Expectations in Modern Macroeconomics: In Honor of Edmund S. Phelps

    Ed. Philippe Aghion, Roman Frydman, Joseph E. Stiglitz, Michael Woodford
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    Macroeconomics would not be what it is today without Edmund Phelps. This book assembles the field's leading figures to highlight the continuing influence of his ideas from the past four decades. Addressing the most important current debates in macroeconomic theory, it focuses on the rates at which new technologies arise and information about markets is dispersed, information imperfections, and the heterogeneity of beliefs as determinants of an economy's performance. The contributions, which represent a breadth of contemporary theoretical approaches, cover topics including the real effects of monetary disturbances, difficulties in expectations formation, structural factors in unemployment, and sources of technical progress. Based on an October 2001 conference honoring Phelps, this incomparable volume provides the most comprehensive and authoritative account in years of the present state of macroeconomics while also pointing to its future. (Princeton University Press)

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