Original: This research lead to a paper published with John Taylor in 1977,"Stabilizing Powers of Monetary Policy under Rational Expectations" (see Selected Publications) proving that staggered wage setting gives monetary policy a role in stabilizing economic fluctuations.
Simplified: Professor Phelps and John Taylor published research in 1977,"Stabilizing Powers of Monetary Policy under Rational Expectations" (see Selected Publications) about how to calculate wages ("Staggered Wages).