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Economica Coase-Phillips Lectures

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Introduction

The annual Coase-Phillips Lectures are hosted jointly by the journal Economica and the Department of Economics. 

Two of Economica's most famous articles are the inspiration for the Economica Annual Lecture Series in conjunction with the Department.

billPhillipsThe 'Phillips Curve' article was the most heavily-cited macroeconomics title of the 20th centur.

A W Phillips The Relation Between unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957 Vol 25 Issue 100, November 1958

Ronald CoaseRonald Coase won the Nobel Prize for his work on the theory of the firm which began with his Economica article.

R H Coase The Nature of the Firm Vol 4 Issue 16, November 1937

 

Following the 2007 inaugural lecture the Economica Phillips lecture (named after the "Phillips Curve" article, published 50 years ago this year) were given every other year, in rotation with the Economica Coase lecture series (after Ronald Coase's celebrated work on the theory of the firm published in Economica), which was inaugurated in 2007. From 2016 onwards, when Economica was re-launched, both Economica Phillips and Economica Coase lectures take place in the same academic year.

Following the inaugural lecture by Oliver Hart in 2007, the Economica Coase-Phillips lectures have played host to Robert Lucas, Jean Tirole, Thomas Sargent, Ernst Fehr and Christopher Pissarides.

For more information about the lecture series and the articles from the lectures, please visit the Economica website. 

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Lectures

2017 Economica-Phillips Lecture: “Why Are Some Times Different?  Policy and the Variation in the Aftermath of Financial Crises”

Date: Wednesday 17 May 2017
Time:  6:30-8:00 pm
Venue: Old Theatre, Old Building
Speaker: Professor Christina Duckworth Romer
Chair: Professor Francesco Caselli

photograph of Christina RomerThe Annual Economica Phillips lecture is jointly sponsored by the journal Economica and the Department of Economics.

Christina Duckworth Romer is the Class of 1957 Garff B Wilson Professor of Economics at the University of California, Berkeley and a former Chair of the Council of Economic Advisers in the Obama administration.

Francesco Caselli is Norman Sosnow Professor of Economics at LSE.

Twitter Hashtag for this event: #LSEPhillips

This event is free and open to all with no ticket or pre-registration required. Entry is on a first come, first served basis. For any queries see LSE Events FAQ or contact us at events@lse.ac.uk 0207 955 6043.

For further information please visit the LSE Events page.

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2017 Economica-Coase Lecture: "Breaking the Glass Ceiling"

Date: Thursday 23 March 2017 
Time:  6:30-8:00 pm
Venue: Old Theatre, Old Building
Speaker: Marianne Bertrand
Chair: Professor Oriana Bandiera

photograph of Marianne BertrandMarianne Bertrand (pictured left) is an applied micro-economist whose research covers the fields of labor economics, corporate finance, and development economics. Her research in these areas has been published widely, including numerous research articles in the Quarterly Journal of Economics, the Journal of Political Economy, the American Economic Review, and the Journal of Finance.

Oriana Bandiera (@orianabandiera) is a Professor of Economics and the Director of the Suntory and Toyota Centre for Economics and Related Disciplines (STICERD) at the London School of Economics. 

This event is free and open to all with no ticket or pre-registration required.

Twitter Hashtag for this event: #LSECoase

For further information about the lecture and ticketing please visit the LSE Events pages.

The audio and video recordings are now available via the LSE News and Media pages and via the Department of Economics YouTube channel.

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2016 Economica-Coase Lecture: "Taxes, Targets, and the Social Cost of Carbon"            

Date: Thursday 12 May 2016
Time:  6.30-8pm
Venue: Old Theatre, Old Building
Speaker:  Professor Robert Pindyck        
Chair:  Professor Ian Martin    

photograph of Robert PindyckProfessor Pindyck, one of the world’s leading microeconomists, will discuss his recent work, which focusses on economic policies relating to rare disasters.            

Robert Pindyck is an American economist, Bank of Tokyo-Mitsubishi Professor of Economics and Finance at Sloan School of Management at Massachusetts Institute of Technology. He is also a Research Associate with the National Bureau of Economic Research. He received bachelor degrees in Electrical Engineering and Physics from MIT. in 1966, a master's degree in Electrical Engineering from MIT in 1967, and a PhD in Economics from MIT in 1971.

Ian Martin is a Professor of Finance at the LSE. He received his PhD in Economics from Harvard University. Before moving to LSE, he was an Associate Professor of Finance at Stanford GSB. His research interests include cross-country contagion in financial markets; the valuation of long-dated assets; catastrophes; derivative pricing; and forecasting in financial markets. Professor Martin is the Programme Director of the
LSE's MSc in Finance and Economics, and is an editor of Economica.

Twitter Hashtag for this event: #LSECoase          

This event is free and open to all with no ticket or pre-registration required. Entry is on a first come, first served basis. 

The audio and video recordings of the lecture are now available on the LSE News and Media pages and via the Department of Economics YouTube channel.

See the Image Gallery for photographs of the lecture.

You can view the lecture slides: "Taxes, targets, and the social cost of carbon".

For further information please visit the LSE Public Events pages.

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2016 Economica-Phillips Lecture: "Understanding the Stagnation of Modern Economies"

Date: Thursday 28 April 2016
Time:  6.30-8pm
Venue: Old Theatre, Old Building
Speaker:  Professor Robert Hall  
Chair:  Professor Francesco Caselli          

The annual Phillips Lecture, jointly sponsored by the journal Economica and the Department of Economics, in which Professor Hall, one of the world's leading macroeconomists will speak on the macroeconomics of persistent slumps.                

photograph of Robert HallRobert Hall is an American economist and a Robert and Carole McNeil Senior Fellow at Hoover Institution and Professor of Economics at Standford University. He is generally considered a macroeconomist, but he describes himself as an "applied economist".            

Bob Hall received a BA in Economics at the University of California, Berkeley and a PhD in Economics from MIT for thesis titled Essays on the Theory of Wealth under the supervision of Robert Solow. He is a member of the Hoover Institution, the National Academy of Sciences, a fellow at both American Academy of Arts and Sciences and the Econometric Society, and a member of the NBER, where he is the program director of the business cycle dating committee. Hall served as President of the American Economic Association in 2010.            

Francesco Caselli is Norman Sosnow Chair in Economics at the Department of Economics at LSE.

Twitter Hashtag for this event: #LSEPhillips            

This event is free and open to all with no ticket or pre-registration required. Entry is on a first come, first served basis.          

The audio and video recordings of the lecture are now available on the LSE News and Media pages and via the Department of Economics YouTube channel

See the Image Gallery for photographs of the lecture.  

For further information please visit the LSE Public Events pages.

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2015 Economica Coase Lecture: "Human Capital, Inequality and Tax Reform: Recent Past and Future Prospects"

Date: Tuesday 10 March 2015
Time: 6.30-8pm
Venue: Old Theatre, Old Building
Speaker:  Professor Sir Richard Blundell

photograph of Richard BlundellEven before the financial crisis many developed economies were facing growing inequality and struggling to maintain employment and earnings. This lecture will dig deeper into the background to these trends and will examine the evidence on how tax and welfare reform impacts on human capital, inequality and earnings.

It will ask two general questions: What are the key margins where we might expect tax and welfare reform to have most impact on earnings, employment growth and inequality?  How has this changed in the light of the great recession?

The talk will consider prospects for the future and the potential for policy reform.

Professor Sir Richard Blundell CBE FBA is Ricardo Professor at University College London and Research Director of the Institute for Fiscal Studies. He is an alumnus of LSE. 

Suggested hashtag for this event for Twitter users: #LSEBlundell

This event is free and open to all with no ticket or pre-registration required. Entry is on a first come, first served basis. 

For further information, please visit the LSE Public Events pages.

You can view the lecture slides: "Human Capital, Inequality and Tax Reform: Recent Past and Future Prospects".

The audio and video recordings of the lecture are now available on the LSE News and Media pages and via the Department of Economics YouTube channel

See the Image Gallery for photographs of the lecture. 

For an overview of the lecture, please visit the Department's Storify page.

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2014 Economica Phillips Lecture: "Environmental Protection and Rare Disasters"

Date: Thursday 20 March 2014
Time: 6.30-8pm
Venue: Old Theatre, Old Building
Speaker:  Professor Robert J Barro
Chair: Professor Sir Christopher Pissarides

photograph of Robert J BarroDrawing on work on rare macroeconomic disasters, this lecture will argue that optimal environmental investment can be a significant share of GDP even with standard values for the rate of time preference and the expected rate of return on private capital.

The Stern Review’s evaluation of environmental protection relies on extremely low discount rates, an assumption criticized by many economists. The Review also stresses that great uncertainty is a critical element for optimal environmental policies. An appropriate model for this policy analysis requires sufficient risk aversion and fat-tailed uncertainty to get into the ballpark of explaining the observed equity premium. A satisfactory framework, based on Epstein-Zin/Weil preferences, also separates the coefficient of relative risk aversion (important for results on environmental investment) from the intertemporal elasticity of substitution for consumption (which matters little). Calibrations based on existing models of rare macroeconomic disasters suggest that optimal environmental investment can be a significant share of GDP even with reasonable values for the rate of time preference and the expected rate of return on private capital. Optimal environmental investment increases with the coefficient of relative risk aversion and the probability and typical size of environmental disasters but decreases with the degree of uncertainty about policy effectiveness.  The key parameters that need to be pinned down are the proportionate effect of environmental investment on the probability of environmental disaster and the baseline probability of environmental disaster.

Robert J Barro (pictured) is Paul M Warburg Professor of Economics at Harvard University and a senior fellow of the Hoover Institution of Stanford University.

Suggested hashtag for this event for Twitter users: #LSEBarro

This event is free and open to all with no ticket required. Entry is on a first come, first served basis.

This event will be webcast live on the LSE website on LSE Live.

For further information, please visit the LSE Public Events page.

The video and audio recordings are now available on the LSE News and Media pages and via the Department of Economics YouTube channel.

See the Image Gallery for photographs of the lecture.

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2013 Economica Coase Lecture: "Foreign Trade and Investment: Firm-Level Perspectives"

Date: Thursday 21 February 2013
Time: 6:30-8:00pm
Venue: Old Theatre, Old Building
Speaker: Professor Elhanan Helpman
Chair: Professor Tim Besley

photograph of Elhanan HelpmanDuring the last decade the analysis of foreign trade and investment has been re-oriented toward the roles played by firms with different characteristics. This has been enabled by the emergence of rich data sets that provide new stylised facts on trade and investment. In response, new theoretical models have been developed to explain these patterns and to re-examine a host of issues, such as the effects of trade policy on productivity and trade openness on inequality. The lecture will review these developments.

Elhanan Helpman (pictured) is the Galen L. Stone Professor of International Trade at Harvard University and a Fellow of the Canadian Institute for Advanced Research. He holds a BA degree in Economics and Statistics from Tel Aviv University, an MA degree in Economics from the same institution, and a PhD degree in Economics from Harvard University. He was the Archie Sherman Professor of International Economic Relations at Tel Aviv University before moving to Harvard.

Helpman is a confounder of the "new trade theory" and the "new growth theory", which emphasise the roles of economies of scale and imperfect competition. he was Co-Editor of the Journal of International Economics, Editor of the European Economic Review, and I currently an Editor of the Quarterly Journal of Economics. He is a member of the Israeli Academy of Sciences and Humanities, a Foreign Honorary Member of the American Academy of Arts and Sciences, a Corresponding Fellow of the British Academy, a member of the European Academy of Sciences and Arts and a Distinguished Fellow of the American Economic Association. He was President of the Israeli Economic Association and President of the Econometric Society. He received the Mahalanobis Memorial medal, the Bernhard Harms Prize, the Rothschild Prize, the EMET Prize, the Nemmers Prize, the Onassis Prize and the Israel Prize.

This event is free and open to all, with no ticket required.

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2012 Economica Phillips Lecture: "OECD Labour Markets in the Great Recession"

Date: Thursday 9 February 2012
Time: 6:30-8:00pm
Venue: Old Theatre, Old Building
Speaker: Professor Christopher Pissarides
Chair: Professor John Van Reenen

photograph of Christopher Pissarides 2013Labour markets across the OECD reacted differently to the financial crisis of 2009 and the debt crisis that followed. Professor Pissarides will review these different responses, seek explanations for them, and draw conclusions about labour market policy in recession. The focus will be on unemployment and how to contain its rise in light of the negative shocks to economic activity.

Christopher Pissarides is the Norman Sosnow Chair in Economics, LSE, and recipient of the 2010 Nobel Prize for Economic Sciences.

Suggested hashtag for this event for Twitter users: #lsework

Further information is available through the LSE Public Events pages.

The video and audio podcast as well as the slides of this talk are available from the LSE News and Media pages and via the Department of Economics YouTube channel.

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2011 Economica Coase Lecture: "The Lure of Authority: Motivation and Incentive Effects of Power"

Date: Thursday 24 February 2011
Time: 6:30-8:00pm
Venue: Old Theatre, Old Building
Speaker: Professor Ernst Fehr
Chair: Professor Frank Cowell

Authority and power permeate political, social, and economic life - yet there is limited empirical knowledge about the motivational origins and consequences of authority. Based on an experimental approach, Ernst Fehr's lecture will explore the psychological consequences of authority for important economic interactions. He will document the human desire to exercise authority, the motivation-enhancing effect of possessing authority and the detrimental motivational effects of a lack of authority.

Ernst Fehr is director of the Department of Economics at the University of Zurich. He has conducted influential research on the role of social preferences in competition, cooperation and incentive provision.

This event is free and open to all with no ticket required. Entry is on a first come, first served basis.

Further information is available through the LSE Public Events pages.

The video and audio podcast of this event are available to download from the LSE News and Media pages and via the Department of Economics YouTube channel.

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2010 Economica Phillips Lecture: "Uncertainty and Ambiguity in American Fiscal and Monetary Policies"

Date: Wednesday 10 February 2010
Time: 6:30-8:00pm
Venue: Old Theatre, Old Building
Speaker: Professor Thomas J Sargent
Chair: Professor Francesco Caselli

Combining an historical approach with macroeconomic theory, Thomas Sargent will discuss ways of thinking about American fiscal and monetary policies - exploring how contradictions have developed and how they have been resolved.

Thomas Sargent is professor of economics at New York University and senior fellow at Hoover Institution at Stanford University.

This event is free and open to all with no ticket required. Entry is on a first come, first served basis.

Further information is available from the LSE Public Events pages.

The video and audio podcast of this events is available through the LSE News and Media pages and via the Department of Economics YouTube channel.

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2009 Economica Coase Lecture: "Individual and Corporate Social Responsibility"

Date: Thursday 19 February 2009
Time: 6:30-8:00pm
Venue: Old Theatre, Old Building
Speaker: Professor Jean Tirole
Chair: Professor Chris Pissarides

Professor Jean Tirole is one of the world's most eminent economists working in the fields of industrial organisation, banking and finance and game theory, and economics and psychology. He is director of the Fondation Jean-Jacques Laffont-Toulouse School of Economics, scientific director of the Institute d' Economie Industrielle in Toulouse and a visiting professor at MIT. Professor Tirole will speak on 'Individual and Corporate Social Responsibility'.

Download the poster for the lecture.

The audio podcast of this event is available from the LSE News and Media pages.

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2008 First Economica Phillips Lecture: "Schooling and Growth"

Date: Thursday 7 February 2008
Time: 6:30-8:00pm
Venue: Old Theatre, Old Building
Speaker: Professor Robert Lucas
Chair: Professor Christopher Pissarides

The Department of Economics is delighted to announce that the 2008 Economica Phillips Lecture will be given by Robert Lucas, the John Dewey Distinguished Service Professor in Economics at the University of Chicago. One of the world's leading authorities on monetary theory, growth and development, he was awarded the Nobel Prize for Economics in 1995.

Further information can be found at the LSE Lectures and Events page. Admission is free and open to all, so please turn up at least 20 minutes before the start of the lecture to ensure that you get a seat.

Download the poster for the lecture.

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2007 Inaugural Economica Coase Lecture: "Contracts, Reference Points, and the Theory of the Firm"

Date: Thursday 22 February 2007
Time: 6:30-8:00pm
Venue: Old Theatre, Old Building
Speaker: Professor Oliver Hart
Chair: Professor Leonardo Felli

In this inaugural Coase lecture, Oliver Hart will discuss how his recent work with John Moore on contracts as reference points can be used to shed light on the theory of the firm.

Oliver Hart is the Andrew E. Furer Professor of Economics at Harvard University, where he has been teaching since 1993. A major authority on contract theory, the theory of the firm, and corporate finance, he has published numerous articles in leading scientific journals, as well as in the Wall Street Journal and the Financial Times.

This event is free and open to all with no ticket required. Entry is on a first come, first served basis.

Details of the lecture can be found at LSE Public Lectures and Events.

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