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PrintLucas, Robert (born 1937)
From The New Palgrave Dictionary of Economics, Second Edition, 2008
Edited by
Steven
N.
Durlauf and
Lawrence
E.
Blume
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Abstract
Robert E. Lucas, Jr is one of the most influential economists of our time. His work on rational expectations offered a truly new way of thinking about economics and policy that led to most of the recent successes in macroeconomics. Lucas's path breaking research on so many issues of vital importance has advanced the frontier of science and set the stage for new exciting discoveries.
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Keywords
business cycles; cash-in-advance constraint; dynamic stochastic general equilibrium models; economic growth; endogenous growth theory; human capital; inflation; Lucas Critique; Lucas trees; Lucas, R.; monetary business cycle models; monetary shocks; money growth; neoclassical growth theory; neutrality of money; overlapping generations models; Phillips curve; rational expectations; time consistency of monetary and fiscal policyBack to top
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See Also
In writing this article I have drawn from Fisher (1996), Hall (1996), Svensson (1996), Sargent (1996), Lucas (1996) and Chari (1998).
How to cite this article
Barseghyan, Levon. "Lucas, Robert (born 1937)." The New Palgrave Dictionary of Economics. Second Edition. Eds. Steven N. Durlauf and Lawrence E. Blume. Palgrave Macmillan, 2008. The New Palgrave Dictionary of Economics Online. Palgrave Macmillan. 09 February 2010 <http://www.dictionaryofeconomics.com/article?id=pde2008_L000216> doi:10.1057/9780230226203.0999
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