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July 26, 1933
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Microfoundations of macroeconomics Expectations in wage and price-setting Natural rate of unemployment Statistical discrimination Structural slumps Imagination in innovating Golden Rule rate of saving
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Edmund Phelps is an economist from the United States , born on July 26, 1933, in Evanston, Illinois . He is known for his work in microfoundations of macroeconomics, expectations in wage and price-setting, natural rate of unemployment, statistical discrimination, structural slumps, imagination in innovating, and the Golden Rule rate of saving .
Phelps studied at various educational institutions, including Amherst College , Yale University , and the University of Pennsylvania . His doctoral advisor was James Tobin , and he advised doctoral student David Colander .
In 2006, Phelps was awarded the Nobel Memorial Prize in Economic Sciences for his work. His academic disciplines include economics and macroeconomics .
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