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The Scientific Contributions of Robert E. Lucas, Jr. The Royal Swedish Academy of Sciences. October 1995. During the 1970s macroeconomics was rapidly and thoroughly transformed: the rational expectations hypothesis was developed and applied, an equilibrium theory of business cycles emerged, and the problems in macroeconometric evaluation of economic policy and their solutions were clarified.
10. Dez. 1995 · Robert E. Lucas, Jr’s speech at the Nobel Banquet, December 10, 1995. Your Majesties, Ladies and Gentlemen, As you all know, Alfred Nobel did not choose to establish a prize in Economics. This prize was established in the 1960s, as a memorial, through the generosity of the Bank of Sweden. Generosity and, I would say, wisdom, as the ...
16. Mai 2023 · Robert Lucas. Keynesianism had taken some lumps by the early 1970s, but it was still the dominant school in macroeconomics. Then Robert E. Lucas Jr. came along. The longtime University of Chicago economist died Monday at 85. In a famous 1972 article, Lucas made a crucial observation. He noted that virtually every macroeconomic model erroneously ...
Economics for Lucas is about people and how they decide what to do. “Anything that happens in the economy happens because people do this or that or something else,” he continues. “If we’re trying to understand that, we have to get inside those people and ask what they’re thinking. The rational expectations answer is they’re thinking ...
7. Juli 2015 · Interview: A conversation with Robert E. Lucas, Jr., nobel laureate in economics, 1995 New Zealand Economic Papers. Optimal price-level drift under commitment in the canonical New Keynesian model Canadian Journal of Economics. Price setting frequency and the Phillips curve European Economic Review.
15. Mai 2023 · Robert E. Lucas Jr. Brought Rationality to Macroeconomics. A Nobel laureate and a giant in the field dies at 85. Journal Editorial Report: The week's best and worst from Kim Strassel, Jason Riley ...
22. Mai 2023 · We are saddened that professor Robert E. “Bob” Lucas Jr. passed away on Monday, May 15, 2023. Since the early 1970s, the Research Division of the Federal Reserve Bank of Minneapolis has had the privilege to establish a close collaboration with Bob that has influenced and transformed generations of economists and policymakers.
