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33:
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1673:
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807:
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1905:
while noting that aggregation in the theoretical sense may not be possible within a given model. He formulated the "Lucas critique" of economic policymaking, which holds that relationships that appear to hold in the economy, such as an apparent relationship between inflation and unemployment, could
1866:
in macroeconomic theory. Lucas (1972) incorporated the idea of rational expectations into a dynamic macroeconomic models. The agents in Lucas's model are rational: based on the available information, they form expectations about future prices and quantities, and based on these expectations they act
1979:, Rita Cohen. The couple divorced in the 1980s. The divorce stipulation had a clause that entitled Cohen to half of his Nobel prize winnings if the prize were to be awarded before October 31, 1995, which ended up being the case.
1848:
in 1995. The citation noted that the prize was "for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy".
2794:
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1938:", which considers why more capital does not flow from developed countries to developing countries. Lucas (1988) is a seminal contribution in the economic development and growth literature. Lucas and
5260:
6211:
6131:
3452:
4635:
1778:, as a first-year graduate student, but he left Berkeley due to financial reasons and returned to Chicago in 1960, where he earned a PhD in Economics in 1964. His dissertation,
2947:
6206:
5253:
3282:
1767:, the family moved to Seattle. His mother worked as a fashion designer and his father worked at shipbuilding yard and later worked as a welder with a refrigeration company.
3445:
3468:
1794:" grounds. He believed that economics was the true driver of history, and so he planned to immerse himself fully in economics and then return to the history department.
1751:
characterized him as "the most influential macroeconomist of the last quarter of the 20th century". In 2020, he ranked as the 10th most cited economist in the world.
6191:
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4484:
1949:
Lucas also contributed foundational contributions to behavioral economics, and provided the intellectual foundation for the understanding of deviations from the
6226:
5147:
2823:
4628:
3348:
1875:'s view of the long-run neutrality of money, and provided an explanation for the then observed correlation between output and inflation, depicted by the
1763:, as the eldest child of Robert Emerson Lucas and Jane Templeton Lucas. His parents ran an ice creamery in Yakima. After the business failed during the
1630:
4140:
4399:
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1715:
880:
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1960:, that the "central problem of depression-prevention has been solved, for all practical purposes, and has in fact been solved for many decades."
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1976:
236:
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32:
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873:
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1879:, while illustrating that the existence of this empirical relationship did not yield a possibility of a policy trade off.
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2936:. Carnegie-Rochester Conference Series on Public Policy. Vol. 1. New York: American Elsevier. pp. 19–46.
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1701:
866:
416:
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1834:
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1747:, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy".
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1811:
1381:
1364:
1244:
178:
5172:
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4190:
3938:
2168:
Lucas, Robert E. Jr. (2012). "The
History and Future of Economic Growth". In Miniter, Brendan (ed.).
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change in response to changes in economic policy. The reformulation influenced the development of
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2020:
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In 1976, Lucas challenged the foundations of macroeconomic theory (previously dominated by the
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to maximize their expected lifetime utility. He also provided sound theoretical foundations to
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3224:
The
Revival of Laissez-Faire in American Macroeconomic Theory: A Case Study of Its Pioneers
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2194:
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2030:
1967:
which tries to show how much higher GDP would be in the presence of proper policy.
1950:
1946:
and the resurgence of research on economic growth in the late 1980s and the 1990s.
1911:
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3094:"The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1995"
2994:
2845:"The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1995"
2455:
2407:"The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1995"
1995:
1957:
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355:
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213:
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3195:. Contributions to Economics. Heidelberg/New York/Dordrecht/London: Springer.
2102:
Lucas, Robert (1990). "Why Doesn't
Capital Flow from Rich to Poor Countries".
1482:
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3408:
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1998:. Lucas had two sons with Cohen: Stephen (born 1960) and Joseph (born 1966).
1987:
1935:
1872:
1582:
1567:
1542:
1527:
1522:
1517:
1492:
1487:
1151:
1113:
1010:
742:
732:
712:
707:
687:
662:
585:
535:
460:
360:
273:
6094:
6070:
6064:
6004:
5927:
5909:
5855:
5813:
5634:
5611:
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5220:
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4930:
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4554:
4524:
4173:
4090:
4079:
4056:
4041:
3994:
3910:
3723:
3707:
3667:
3579:
3310:
2646:
1983:
1837:
in 1997. A collection of his papers is housed at the
Rubenstein Library at
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1602:
1547:
1507:
1294:
1166:
1133:
1123:
1081:
958:
953:
638:
628:
575:
475:
455:
450:
135:
4377:
3252:
6088:
5903:
5861:
5748:
5545:
5178:
5093:
5045:
4954:
4835:
4805:
4787:
4150:
3986:
3970:
3898:
3783:
3715:
3619:
3583:
3398:
3163:"Robert E. Lucas Jr., Nobel laureate and pioneering economist, 1937–2023"
2324:
1964:
1926:
that suggests people can be tricked by unsystematic monetary policy; the
1607:
1118:
1103:
677:
545:
445:
2623:
2193:. Working Paper Series no. 17495. National Bureau of Economic Research.
848:
6076:
5190:
4877:
4847:
4071:
4026:
3516:
3277:
2907:
2875:
2498:"Robert E. Lucas Jr., Nobel-Winning Conservative Economist, Dies at 85"
2115:
1939:
1780:
Substitution
Between Labor and Capital in U.S. Manufacturing: 1929–1958
1537:
1467:
1403:
1354:
752:
682:
667:
421:
315:
263:
3318:
Interviews with Robert Lucas as part of the Nobel
Perspectives project
2597:"Understanding Robert Lucas (1967–1981): His Influence and Influences"
3285:
2695:
2190:
1731:(September 15, 1937 – May 15, 2023) was an American economist at the
1635:
1477:
1108:
993:
948:
2891:
1862:
Lucas is well known for his investigations into the implications of
5268:
2657:
2255:
2199:
2042:
Lucas, Robert (1976). "Econometric Policy
Evaluation: A Critique".
2073:
Lucas, Robert (1988). "On the
Mechanics of Economic Development".
2011:
Lucas, Robert (1972). "Expectations and the
Neutrality of Money".
1735:. Widely regarded as the central figure in the development of the
2149:. Prize Lecture, 1995 Nobel Prize in Economics, December 7, 1995,
1791:
820:
747:
2530:"Robert E. Lucas Jr., Nobel Prize–winning economist, dies at 85"
2357:
3193:
The Theory of New Classical Macroeconomics: A Positive Critique
2295:
1684:
806:
2171:
The 4% Solution: Unleashing the Economic Growth America Needs
1276:
1052:
1743:
in 1995 "for having developed and applied the hypothesis of
6212:
Distinguished fellows of the American Economic Association
6132:
Members of the United States National Academy of Sciences
4643:
2152:
Stokey, Nancy; Robert Lucas; and Edward Prescott (1989),
2001:
Lucas died in Chicago on May 15, 2023, at the age of 85.
96:
3248:
Robert E. Lucas Jr.'s website at University of Chicago
3027:"Paul Romer: Ideas, Nonrivalry, and Endogenous Growth"
2824:
David M. Rubenstein Rare Book & Manuscript Library
2236:
Lucas, Robert E. Jr.; Moll, Benjamin (February 2014).
2876:"The Scientific Contributions of Robert E. Lucas, Jr"
2189:
Lucas, Robert E. Jr.; Moll, Benjamin (October 2011).
2044:
Carnegie-Rochester Conference Series on Public Policy
6207:
Fellows of the American Academy of Arts and Sciences
2277:
2237:
2124:
1975:Lucas married an undergraduate classmate from the
1770:Lucas received his BA in History in 1959 from the
3349:Laureate of the Nobel Memorial Prize in Economics
3220:"Robert E. Lucas, Jr and new classical economics"
6108:
4225:Pugwash Conferences on Science and World Affairs
2989:
2652:Bob Lucas on Growth, Poverty and Business Cycles
1956:In 2003, he stated, about five years before the
1790:. Lucas studied economics for his PhD on "quasi-
6192:Presidents of the American Economic Association
5270:Presidents of the American Economic Association
3261:includes the Prize Lecture on December 7, 1995
3058:, London: Palgrave Macmillan UK, pp. 1–6,
2820:"Robert E. Lucas papers, 1960–2011 and undated"
4148:
1977:University of Chicago Booth School of Business
1802:Following his graduation, Lucas taught at the
6227:Members of the American Philosophical Society
5254:
4629:
4393:
4134:
3453:
2360:. Cheltenham: Edgar Elgar. pp. 220–223.
2239:"Knowledge Growth and the Allocation of Time"
2191:"Knowledge Growth and the Allocation of Time"
2122:
2101:
2072:
2041:
2010:
1709:
874:
3473:Sveriges Riksbank Prize in Economic Sciences
2965:"New Classical Macroeconomics: Robert Lucas"
2595:Andrada, Alexandre F. S. (May–August 2017).
2174:. New York: Crown Business. pp. 27–41.
1982:After his divorce from Cohen, Lucas married
1901:should be built as an aggregated version of
1804:Graduate School of Industrial Administration
4407:
3160:
3005:. Cambridge: MIT Press. pp. 356–360 .
2923:"Econometric Policy Evaluation: A Critique"
2382:"Robert E. Lucas, Jr. | American economist"
2353:
1754:
5261:
5247:
4636:
4622:
4400:
4386:
4141:
4127:
3460:
3446:
3256:
3049:
1934:) of human capital accumulation; and the "
1716:
1702:
881:
867:
31:
3161:Lee, Tori; Witynski, Max (May 16, 2023).
2749:John Simon Guggenheim Memorial Foundation
2622:
2612:
2487:
2485:
2483:
2481:
2428:Mankiw, N. Gregory (September 21, 2009).
2235:
2198:
2188:
2055:
2024:
1953:based on the irrationality of investors.
1852:
1846:Nobel Memorial Prize in Economic Sciences
1759:Lucas was born on September 15, 1937, in
1741:Nobel Memorial Prize in Economic Sciences
308:Nobel Memorial Prize in Economic Sciences
3056:The New Palgrave Dictionary of Economics
2873:
2682:
2354:Snowdon, Brian; Vane, Howard R. (2005).
1857:
1737:new classical approach to macroeconomics
3190:
2914:
2724:American Academy of Arts & Sciences
2645:
2594:
2560:
2558:
2491:
1986:. The couple collaborated on papers on
1782:, was written under the supervision of
6109:
3217:
2953:from the original on November 5, 2021.
2527:
2478:
2427:
2154:Recursive Methods in Economic Dynamics
1917:
1026:Measures of national income and output
6187:Presidents of the Econometric Society
5242:
4617:
4381:
4122:
3441:
3302:The Concise Encyclopedia of Economics
2920:
2880:The Scandinavian Journal of Economics
2869:
2867:
2865:
2167:
1823:American Academy of Arts and Sciences
6237:Journal of Political Economy editors
6217:National Bureau of Economic Research
2934:The Phillips Curve and Labor Markets
2571:"Robert E. Lucas Jr. – Biographical"
2555:
2523:
2521:
1814:until 1975, when he returned to the
3268:Robert E. Lucas Jr. – Autobiography
126:
13:
6222:Economists from Washington (state)
6182:Fellows of the Econometric Society
6127:Carnegie Mellon University faculty
2983:
2862:
2448:"Top 10% Authors, as of July 2020"
1776:University of California, Berkeley
14:
6248:
6197:Fellows of the Earhart Foundation
3241:
3039:from the original on May 3, 2020.
2564:
2518:
1882:
6152:21st-century American economists
6147:20th-century American economists
3307:Library of Economics and Liberty
3064:10.1057/978-1-349-95121-5_2728-1
2663:Library of Economics and Liberty
2294:
2280:
2127:Studies in Business-Cycle Theory
1970:
1683:
1671:
912:
847:
833:
819:
805:
394:Library of Economics and Liberty
3549:Leonid Vitaliyevich Kantorovich
3154:
3129:
3111:
3086:
3043:
3019:
2957:
2837:
2812:
2787:
2762:
2737:
2712:
2676:
2639:
2335:Welfare cost of business cycles
2004:
417:Consequentialist libertarianism
122:
6177:People from Yakima, Washington
3297:"Robert E. Lucas Jr. (1937– )"
2799:American Philosophical Society
2588:
2528:Langer, Emily (May 19, 2023).
2440:
2421:
2399:
2374:
2347:
1835:American Philosophical Society
1631:Publications in macroeconomics
16:American economist (1937–2023)
1:
6172:University of Chicago faculty
3420:American Economic Association
3184:
2874:Svensson, Lars E. O. (1996).
2302:Business and economics portal
2075:Journal of Monetary Economics
2066:10.1016/S0167-2231(76)80003-6
6167:University of Chicago alumni
6157:Nobel laureates in Economics
4517:New classical macroeconomics
2774:National Academy of Sciences
2460:Research Papers in Economics
2244:Journal of Political Economy
2156:, Harvard University Press,
2087:10.1016/0304-3932(88)90168-7
2035:10.1016/0022-0531(72)90142-1
1908:new classical macroeconomics
1831:National Academy of Sciences
609:Symmetrical inflation target
366:Positive non-interventionism
199:New classical macroeconomics
7:
5209:Pinelopi Koujianou Goldberg
4275:Christiane Nüsslein-Volhard
3291:Chicago Economics on Trial
3052:"Lucas, Robert (Born 1937)"
2273:
10:
6253:
4565:Real business cycle school
3541:Friedrich August von Hayek
3050:Barseghyan, Levon (2016),
3003:Lectures on Macroeconomics
2614:10.1016/j.econ.2016.09.001
2013:Journal of Economic Theory
1914:for macroeconomic theory.
1897:approach), arguing that a
1886:
1812:Carnegie Mellon University
1382:New neoclassical synthesis
1365:Real business-cycle theory
789:Perspectives on capitalism
179:Carnegie Mellon University
6232:Chicago School economists
5949:
5782:
5621:
5534:Oliver M. W. Sprague
5460:
5323:
5276:
5067:
4899:
4738:
4655:
4563:
4515:
4455:
4417:
4305:
4290:
4259:
4234:
4209:
4189:
4158:
3939:Christopher A. Pissarides
3813:
3562:
3479:
3426:
3413:
3405:
3395:
3382:
3374:
3369:
3355:
3346:
3330:
3325:
3273:Nobel Prize Press Release
3201:10.1007/978-3-319-17578-2
3119:"Fighting Off Depression"
1912:microeconomic foundations
1821:Lucas was elected to the
1808:Tepper School of Business
1797:
840:Libertarianism portal
673:Foreign exchange reserves
325:
314:
303:
282:
227:
204:
192:
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103:
84:
68:
42:
30:
23:
6162:American Nobel laureates
6142:New classical economists
6137:American macroeconomists
4432:Francis Ysidro Edgeworth
3218:Kasper, Sherryl (2002).
3137:"What Is a Lucas Wedge?"
2340:
2104:American Economic Review
1963:Lucas also proposed the
1944:endogenous growth theory
1755:Early life and education
1729:Robert Emerson Lucas Jr.
1387:Saltwater and freshwater
47:Robert Emerson Lucas Jr.
5850:Charles P. Kindleberger
5588:Emanuel A. Goldenweiser
4410:Neoclassical economists
4221:(United Kingdom/Poland)
3191:Galbács, Peter (2015).
2991:Blanchard, Olivier Jean
2386:Encyclopedia Britannica
1315:International economics
1240:Overlapping generations
658:Economic liberalization
563:International economics
389:George Mason University
334:Part of a series on the
320:IDEAS / RePEc
129:, divorced)
79:Chicago, Illinois, U.S.
5755:John Kenneth Galbraith
4422:William Stanley Jevons
4311:Nobel Prize recipients
4261:Physiology or Medicine
2932:; Meltzer, A. (eds.).
2921:Lucas, Robert (1976).
2720:"Robert Emerson Lucas"
2690:Fifty Major Economists
2223:Cite journal requires
2145:Lucas, Robert (1995).
2123:Lucas, Robert (1981).
1942:heralded the birth of
1910:and the drive towards
1853:Research contributions
1844:Lucas was awarded the
1658:Mathematical economics
1409:Modern monetary theory
1172:Universal basic income
723:Open market operations
427:Neoclassical economics
269:Esteban Rossi-Hansberg
4991:Jean-Michel Grandmont
4485:Jean-Michel Grandmont
3660:James M. Buchanan Jr.
3167:University of Chicago
2770:"Robert E. Lucas, Jr"
2147:"Monetary Neutrality"
1864:rational expectations
1858:Rational expectations
1827:Guggenheim Fellowship
1816:University of Chicago
1774:. Lucas attended the
1772:University of Chicago
1745:rational expectations
1733:University of Chicago
1498:Wesley Clair Mitchell
1473:Thomas Robert Malthus
1310:Development economics
826:Capitalism portal
703:Intellectual property
511:Comparative advantage
290:Rational expectations
184:University of Chicago
89:University of Chicago
5808:Tjalling C. Koopmans
5421:Herbert J. Davenport
5331:Edwin R. A. Seligman
5040:Robert E. Lucas, Jr.
5010:Jean-Jacques Laffont
3923:Oliver E. Williamson
3553:Tjalling C. Koopmans
2795:"APS Member History"
2745:"Robert E. Lucas Jr"
2698:. pp. 193–197.
2649:(February 5, 2007).
1903:microeconomic models
1235:Ramsey–Cass–Koopmans
1075:Liquidity preference
693:Inflation adjustment
649:Economic integration
526:Economic rationalism
254:Jean-Pierre Danthine
6023:Christopher A. Sims
5922:Arnold C. Harberger
5886:Thomas C. Schelling
5844:Charles L. Schultze
5731:Kenneth E. Boulding
5683:Theodore W. Schultz
5148:Jean-Charles Rochet
4979:Anthony B. Atkinson
4699:John Maynard Keynes
4649:Econometric Society
4502:Jean-Pascal Bénassy
4457:Walrasian economics
4180:F. Sherwood Rowland
3951:Christopher A. Sims
3879:Thomas C. Schelling
3851:Robert F. Engle III
3752:Robert E. Lucas Jr.
3600:Theodore W. Schultz
3389:Econometric Society
3263:Monetary Neutrality
2534:The Washington Post
2434:Wall Street Journal
2320:Lucas islands model
1918:Other contributions
1899:macroeconomic model
1895:Keynesian economics
1690:Business portal
1626:Macroeconomic model
1503:John Maynard Keynes
1300:Economic statistics
1245:General equilibrium
854:Politics portal
812:Business portal
773:Alter-globalization
718:Negative income tax
698:Inflation targeting
5737:William J. Fellner
5713:Joseph J. Spengler
5701:Gottfried Haberler
5671:George W. Stocking
5665:Morris A. Copeland
5552:Frederick C. Mills
5492:Matthew B. Hammond
5445:Wesley C. Mitchell
5427:Jacob H. Hollander
4925:Franklin M. Fisher
4842:Hendrik Houthakker
4593:Edward C. Prescott
3867:Edward C. Prescott
3855:Clive W.J. Granger
3831:Joseph E. Stiglitz
3804:Daniel L. McFadden
3692:Harry M. Markowitz
3255:on Nobelprize.org
3125:. January 4, 2009.
3123:The New York Times
2504:The New York Times
2466:on August 23, 2020
2454:. Archived by the
2409:. Nobel Foundation
2310:List of economists
1924:a theory of supply
1761:Yakima, Washington
1739:, he received the
1578:Edward C. Prescott
1305:Monetary economics
783:Anti-globalization
581:Monetary economics
61:Yakima, Washington
57:September 15, 1937
6202:Growth economists
6104:
6103:
6059:Olivier Blanchard
6047:Robert J. Shiller
6017:Orley Ashenfelter
5993:Thomas J. Sargent
5940:Dale W. Jorgenson
5874:Joseph A. Pechman
5826:William J. Baumol
5796:Lawrence R. Klein
5790:Franco Modigliani
5707:George J. Stigler
5689:Paul A. Samuelson
5600:Joseph Schumpeter
5510:William Z. Ripley
5504:George E. Barnett
5468:Edwin W. Kemmerer
5391:Walter F. Willcox
5343:Jeremiah W. Jenks
5290:Charles F. Dunbar
5284:Francis A. Walker
5236:
5235:
5227:Eliana La Ferrara
5118:Lars Peter Hansen
5106:Thomas J. Sargent
5016:Andreu Mas-Colell
4985:Hugo Sonnenschein
4943:James A. Mirrlees
4812:Franco Modigliani
4729:Tjalling Koopmans
4687:Joseph Schumpeter
4611:
4610:
4550:Thomas J. Sargent
4530:Axel Leijonhufvud
4375:
4374:
4292:Economic Sciences
4281:Eric F. Wieschaus
4244:Martin Lewis Perl
4116:
4115:
4015:Richard H. Thaler
3979:Robert J. Shiller
3975:Lars Peter Hansen
3947:Thomas J. Sargent
3935:Dale T. Mortensen
3827:A. Michael Spence
3823:George A. Akerlof
3792:Robert A. Mundell
3760:James A. Mirrlees
3728:Douglass C. North
3700:William F. Sharpe
3652:Franco Modigliani
3628:George J. Stigler
3612:Lawrence R. Klein
3501:Paul A. Samuelson
3436:
3435:
3427:Succeeded by
3396:Succeeded by
3370:Academic offices
3359:James A. Mirrlees
3356:Succeeded by
3210:978-3-319-17578-2
3073:978-1-349-95121-5
3012:978-0-262-02283-5
2999:"The Lucas Model"
2971:. October 8, 2012
2565:Lucas, Robert E.
2367:978-1-84542-208-0
2330:Uzawa–Lucas model
2181:978-0-307-98614-6
2138:978-0-262-62044-4
1928:Uzawa–Lucas model
1833:in 1981, and the
1749:N. Gregory Mankiw
1726:
1725:
1653:Political economy
1608:N. Gregory Mankiw
1598:Thomas J. Sargent
1443:Market monetarism
1257:Endogenous growth
1087:National accounts
891:
890:
634:Denationalization
591:Quantity of money
399:Reason Foundation
329:
328:
219:Dale W. Jorgenson
6244:
6035:William Nordhaus
5975:Martin Feldstein
5963:Robert Lucas Jr.
5820:Moses Abramovitz
5767:Walter W. Heller
5761:Kenneth J. Arrow
5743:Wassily Leontief
5641:Calvin B. Hoover
5629:John H. Williams
5528:Alvin S. Johnson
5498:Ernest L. Bogart
5415:Henry B. Gardner
5397:Thomas N. Carver
5308:Arthur T. Hadley
5263:
5256:
5249:
5240:
5239:
5203:Orazio Attanasio
5161:James J. Heckman
5156:
5130:Roger B. Myerson
5112:Richard Blundell
5100:Ariel Rubinstein
5089:
5052:Robert B. Wilson
5028:Christopher Sims
4999:
4830:Michio Morishima
4818:Edmond Malinvaud
4764:Wassily Leontief
4675:Harold Hotelling
4669:François Divisia
4638:
4631:
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4615:
4614:
4540:Bennett McCallum
4535:Robert Lucas Jr.
4498:
4475:Edmond Malinvaud
4442:John Bates Clark
4402:
4395:
4388:
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4378:
4313:
4298:Robert Lucas Jr.
4250:Frederick Reines
4143:
4136:
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4109:
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4099:Philip H. Dybvig
4082:
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4061:Robert B. Wilson
4048:
4038:Abhijit Banerjee
4029:
4023:William Nordhaus
4017:
4009:
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3981:
3965:
3963:Lloyd S. Shapley
3953:
3941:
3931:Peter A. Diamond
3925:
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3903:Roger B. Myerson
3889:
3887:Edmund S. Phelps
3881:
3875:Robert J. Aumann
3869:
3857:
3845:
3833:
3806:
3800:James J. Heckman
3794:
3786:
3778:
3776:Myron S. Scholes
3772:Robert C. Merton
3766:
3754:
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3740:John F. Nash Jr.
3736:John C. Harsanyi
3730:
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3696:Merton H. Miller
3686:
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3606:
3604:Sir Arthur Lewis
3594:
3592:Herbert A. Simon
3586:
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3531:
3529:Wassily Leontief
3523:
3521:Kenneth J. Arrow
3511:
3503:
3495:
3462:
3455:
3448:
3439:
3438:
3406:Preceded by
3375:Preceded by
3338:John F. Nash Jr.
3334:John C. Harsanyi
3331:Preceded by
3323:
3322:
3314:
3309:(2nd ed.).
3260:
3253:Robert Lucas Jr.
3237:
3226:. Edward Elgar.
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2969:policonomics.com
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2495:(May 17, 2023).
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1951:law of one price
1922:Lucas developed
1765:Great Depression
1718:
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1688:
1687:
1678:Money portal
1676:
1675:
1674:
1588:William Nordhaus
1573:Robert Lucas Jr.
1463:François Quesnay
1099:Nominal rigidity
1070:Demand for money
1048:Microfoundations
984:Financial crisis
964:Effective demand
934:Aggregate supply
929:Aggregate demand
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6083:Christina Romer
5981:Daniel McFadden
5945:
5934:D. Gale Johnson
5928:Robert W. Fogel
5916:Anne O. Krueger
5910:Victor R. Fuchs
5892:William Vickrey
5856:Alice M. Rivlin
5838:W. Arthur Lewis
5814:Robert M. Solow
5778:
5773:R. Aaron Gordon
5725:Milton Friedman
5695:Edward S. Mason
5677:Arthur F. Burns
5635:Harold A. Innis
5617:
5606:Howard S. Ellis
5582:I. Leo Sharfman
5576:Joseph S. Davis
5570:Albert B. Wolfe
5564:Edwin G. Nourse
5558:Sumner Slichter
5516:Harry A. Millis
5474:Thomas S. Adams
5456:
5433:Henry R. Seager
5403:John R. Commons
5373:Frank A. Fetter
5367:Henry W. Farnam
5361:Edmund J. James
5349:Simon N. Patten
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5167:Manuel Arellano
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5124:Torsten Persson
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5034:Roger Guesnerie
5022:Takashi Negishi
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4931:J. Denis Sargan
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5480:Fred M. Taylor
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5314:Richard T. Ely
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5197:Stephen Morris
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5185:Drew Fudenberg
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4988:
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4976:
4973:Dale Jorgenson
4970:
4964:
4958:
4955:Amartya K. Sen
4952:
4946:
4940:
4934:
4928:
4922:
4916:
4910:
4907:Hirofumi Uzawa
4903:
4901:
4897:
4896:
4894:
4893:
4887:
4881:
4875:
4869:
4863:
4857:
4854:Leonid Hurwicz
4851:
4845:
4839:
4833:
4827:
4821:
4815:
4809:
4803:
4800:Lawrence Klein
4797:
4794:Marcel Boiteux
4791:
4785:
4779:
4773:
4767:
4761:
4755:
4752:Paul Samuelson
4749:
4746:R. G. D. Allen
4742:
4740:
4736:
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4726:
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4708:
4705:Jacob Marschak
4702:
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4219:Joseph Rotblat
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4107:Claudia Goldin
4102:
4083:
4076:Joshua Angrist
4064:
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4046:Michael Kremer
4030:
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3998:
3990:
3982:
3971:Eugene F. Fama
3966:
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3899:Eric S. Maskin
3895:Leonid Hurwicz
3890:
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3716:Gary S. Becker
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3687:
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3676:Maurice Allais
3671:
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3242:External links
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3098:NobelPrize.org
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2849:NobelPrize.org
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2607:(2): 212–228.
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2315:Lucas critique
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2256:10.1086/674363
2225:|journal=
2200:10.3386/w17495
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2120:
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2039:
2006:
2003:
1992:public finance
1972:
1969:
1932:Hirofumi Uzawa
1919:
1916:
1889:Lucas critique
1887:Main article:
1884:
1883:Lucas critique
1881:
1877:Phillips curve
1859:
1856:
1854:
1851:
1799:
1796:
1788:Dale Jorgenson
1784:H. Gregg Lewis
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1563:Lawrence Klein
1560:
1558:Paul Samuelson
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1513:Michał Kalecki
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1289:Related fields
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1038:
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1021:Liquidity trap
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966:
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939:Business cycle
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923:Basic concepts
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906:Macroeconomics
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766:Related topics
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596:Rational agent
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541:k-percent rule
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466:David Friedman
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295:Lucas critique
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5999:Avinash Dixit
5997:
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5985:
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5979:
5976:
5973:
5970:
5969:Peter Diamond
5967:
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5958:
5957:Sherwin Rosen
5955:
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5898:Zvi Griliches
5896:
5893:
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5887:
5884:
5881:
5880:Gérard Debreu
5878:
5875:
5872:
5869:
5868:Robert Eisner
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5522:John M. Clark
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5439:Carl C. Plehn
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5409:Irving Fisher
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5341:
5338:
5337:F. W. Taussig
5335:
5332:
5329:
5328:
5326:
5322:
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5309:
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5300:
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5296:John B. Clark
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5173:Robert Porter
5171:
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5136:John H. Moore
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5110:
5107:
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5075:Avinash Dixit
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5038:
5035:
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5017:
5014:
5011:
5008:
5005:
5004:Peter Diamond
5002:
4997:
4992:
4989:
4986:
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4980:
4977:
4974:
4971:
4968:
4967:Michael Bruno
4965:
4962:
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4950:
4949:Herbert Scarf
4947:
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4917:
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4908:
4905:
4904:
4902:
4898:
4891:
4890:Zvi Griliches
4888:
4885:
4882:
4879:
4876:
4873:
4870:
4867:
4866:Gérard Debreu
4864:
4861:
4860:Jacques Drèze
4858:
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4852:
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4776:Kenneth Arrow
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4770:Richard Stone
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4759:
4756:
4753:
4750:
4747:
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4737:
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4723:Ragnar Frisch
4721:
4718:
4715:
4712:
4711:Jan Tinbergen
4709:
4706:
4703:
4700:
4697:
4694:
4691:
4688:
4685:
4682:
4681:Arthur Bowley
4679:
4676:
4673:
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4667:
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4663:Irving Fisher
4661:
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4654:
4650:
4646:
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4627:
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4604:
4603:Alan Stockman
4601:
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4598:Sérgio Rebelo
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4483:
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4480:Jacques Drèze
4478:
4476:
4473:
4471:
4470:Gérard Debreu
4468:
4466:
4463:
4462:
4460:
4458:
4454:
4448:
4447:Irving Fisher
4445:
4443:
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3644:Richard Stone
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3636:Gérard Debreu
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3537:Gunnar Myrdal
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3517:John R. Hicks
3513:
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3509:Simon Kuznets
3505:
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3493:Jan Tinbergen
3490:
3489:Ragnar Frisch
3485:
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3430:Peter Diamond
3422:
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3409:Sherwin Rosen
3404:
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3233:9781843765608
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3014:
3008:
3004:
3000:
2996:
2992:
2986:
2970:
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2960:
2949:
2945:
2943:0-444-11007-0
2939:
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2901:
2897:
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2705:9780415134811
2701:
2697:
2692:
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2664:
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2659:
2654:
2653:
2648:
2647:Roberts, Russ
2642:
2634:
2630:
2625:
2620:
2615:
2610:
2606:
2602:
2598:
2591:
2576:
2573:. Stockholm:
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2172:
2166:
2163:
2162:0-674-75096-9
2159:
2155:
2151:
2148:
2144:
2140:
2134:
2131:. MIT Press.
2129:
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2100:
2096:
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2067:
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2027:
2022:
2019:(2): 103–24.
2018:
2014:
2009:
2008:
2002:
1999:
1997:
1993:
1989:
1988:growth theory
1985:
1980:
1978:
1971:Personal life
1968:
1966:
1961:
1959:
1954:
1952:
1947:
1945:
1941:
1937:
1936:Lucas paradox
1933:
1929:
1925:
1915:
1913:
1909:
1904:
1900:
1896:
1890:
1880:
1878:
1874:
1873:Edmund Phelps
1870:
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1589:
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1584:
1583:Peter Diamond
1581:
1579:
1576:
1574:
1571:
1569:
1568:Edmund Phelps
1566:
1564:
1561:
1559:
1556:
1554:
1551:
1549:
1546:
1544:
1543:Richard Stone
1541:
1539:
1536:
1534:
1531:
1529:
1528:Joan Robinson
1526:
1524:
1523:Simon Kuznets
1521:
1519:
1518:Gunnar Myrdal
1516:
1514:
1511:
1509:
1506:
1504:
1501:
1499:
1496:
1494:
1493:Irving Fisher
1491:
1489:
1488:Knut Wicksell
1486:
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1471:
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1360:New classical
1358:
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1149:
1143:
1142:
1135:
1132:
1130:
1127:
1125:
1122:
1120:
1117:
1115:
1114:Shrinkflation
1112:
1110:
1107:
1105:
1102:
1100:
1097:
1093:
1090:
1089:
1088:
1085:
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1034:
1032:
1029:
1028:
1027:
1024:
1022:
1019:
1017:
1014:
1012:
1011:Interest rate
1009:
1005:
1002:
1000:
997:
996:
995:
992:
990:
987:
985:
982:
978:
975:
973:
970:
969:
968:Expectations
967:
965:
962:
960:
957:
955:
952:
950:
947:
945:
942:
940:
937:
935:
932:
930:
927:
926:
920:
919:
915:
911:
910:
907:
904:
903:
899:
895:
894:
884:
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870:
865:
864:
862:
861:
855:
850:
844:
841:
830:
827:
822:
816:
813:
808:
802:
801:
800:
799:
791:
786:
784:
781:
779:
776:
774:
771:
770:
763:
762:
754:
751:
749:
746:
744:
743:Single market
741:
739:
736:
734:
733:Privatization
731:
729:
726:
724:
721:
719:
716:
714:
713:Marketization
711:
709:
708:Laissez-faire
706:
704:
701:
699:
696:
694:
691:
689:
688:Globalization
686:
684:
681:
679:
676:
674:
671:
669:
666:
664:
663:Exchange rate
661:
659:
656:
654:
650:
647:
645:
642:
640:
637:
635:
632:
630:
629:Central banks
627:
626:
619:
618:
610:
607:
605:
601:
597:
594:
592:
589:
587:
586:Public choice
584:
582:
579:
577:
574:
572:
568:
564:
561:
559:
558:
554:
552:
549:
547:
544:
542:
539:
537:
536:Friedman rule
534:
532:
529:
527:
524:
522:
519:
517:
514:
512:
509:
508:
501:
500:
492:
489:
487:
484:
482:
479:
477:
474:
472:
469:
467:
464:
462:
459:
457:
454:
452:
449:
447:
444:
443:
436:
435:
428:
425:
423:
420:
418:
415:
414:
408:
407:
400:
397:
395:
392:
390:
387:
385:
382:
381:
378:Organizations
375:
374:
367:
364:
362:
361:Neoliberalism
359:
357:
354:
353:
347:
346:
343:
338:
337:
333:
332:
324:
321:
317:
313:
309:
306:
302:
296:
293:
291:
288:
287:
285:
283:Contributions
281:
275:
274:Benjamin Moll
272:
270:
267:
265:
262:
260:
257:
255:
252:
250:
247:
243:
238:
235:
234:
232:
226:
220:
217:
215:
212:
211:
209:
203:
200:
197:
191:
185:
182:
180:
177:
176:
174:
170:
167:
164:
160:
155:
151:
147:
143:
137:
134:
109:
108:
106:
102:
98:
94:
90:
87:
83:
71:
67:
62:
45:
41:
37:Lucas in 1996
34:
29:
22:
19:
6095:Janet Currie
6071:Janet Yellen
6065:Ben Bernanke
6005:Angus Deaton
5962:
5950:2001–present
5612:Frank Knight
5594:Paul Douglas
5540:Alvin Hansen
5486:Edwin F. Gay
5385:John H. Gray
5379:David Kinley
5221:Rosa Matzkin
5068:2001–present
5039:
4937:Marc Nerlove
4919:János Kornai
4884:Don Patinkin
4872:W. M. Gorman
4824:Robert Solow
4717:Charles Roos
4555:Neil Wallace
4534:
4525:Robert Barro
4341:
4297:
4091:Ben Bernanke
4080:Guido Imbens
4057:Paul Milgrom
4042:Esther Duflo
3995:Angus Deaton
3911:Paul Krugman
3814:2001–present
3751:
3580:Bertil Ohlin
3414:
3383:
3347:
3311:Liberty Fund
3300:
3283:Interview on
3262:
3223:
3192:
3170:. Retrieved
3156:
3144:. Retrieved
3141:Investopedia
3140:
3131:
3122:
3113:
3101:. Retrieved
3097:
3088:
3077:, retrieved
3055:
3045:
3021:
3002:
2985:
2973:. Retrieved
2968:
2959:
2933:
2916:
2883:
2879:
2852:. Retrieved
2848:
2839:
2827:. Retrieved
2814:
2804:December 10,
2802:. Retrieved
2789:
2779:December 10,
2777:. Retrieved
2764:
2752:. Retrieved
2739:
2729:December 10,
2727:. Retrieved
2723:
2714:
2689:
2678:
2666:. Retrieved
2656:
2651:
2641:
2624:10419/179646
2604:
2600:
2590:
2580:November 16,
2578:. Retrieved
2545:. Retrieved
2533:
2508:. Retrieved
2502:
2493:Roberts, Sam
2468:. Retrieved
2464:the original
2451:
2442:
2433:
2423:
2411:. Retrieved
2401:
2389:. Retrieved
2385:
2376:
2356:
2349:
2247:
2243:
2216:cite journal
2204:. Retrieved
2170:
2153:
2126:
2110:(2): 92–96.
2107:
2103:
2078:
2074:
2047:
2043:
2016:
2012:
2005:Bibliography
2000:
1984:Nancy Stokey
1981:
1974:
1962:
1955:
1948:
1921:
1892:
1861:
1843:
1820:
1801:
1779:
1769:
1758:
1728:
1727:
1603:Paul Krugman
1572:
1548:Hyman Minsky
1508:Alvin Hansen
1392:
1391:
1332:
1295:Econometrics
1272:Overshooting
1225:Harrod–Domar
1220:Arrow–Debreu
1167:Central bank
1134:Unemployment
1124:Supply shock
1082:Money supply
959:Disinflation
954:Demand shock
678:Free markets
639:Deregulation
604:expectations
576:Laffer curve
555:
480:
342:of economics
237:Marcel Boyer
136:Nancy Stokey
74:(2023-05-15)
72:May 15, 2023
18:
6122:2023 deaths
6117:1937 births
6089:Susan Athey
6011:Robert Hall
5904:Amartya Sen
5749:James Tobin
5546:Jacob Viner
5179:Eddie Dekel
5151: [
5094:Eric Maskin
5084: [
5081:Guy Laroque
5046:Jean Tirole
4994: [
4836:Herman Wold
4806:Henri Theil
4788:James Tobin
4701:(1944–1945)
4695:(1942–1943)
4689:(1940–1941)
4683:(1938–1939)
4677:(1936–1937)
4665:(1931–1934)
4573:Robert King
4507:Yves Younes
4493: [
4490:Guy Laroque
4427:Léon Walras
4151:Nobel Prize
4003:Oliver Hart
3987:Jean Tirole
3784:Amartya Sen
3620:James Tobin
3399:Jean Tirole
3278:IDEAS/RePEc
2930:Brunner, K.
2886:(1): 1–10.
2452:IDEAS/RePEc
2413:October 14,
2325:Lucas wedge
2250:(1): 1–51.
2081:(1): 3–42.
1965:Lucas Wedge
1825:in 1980, a
1483:Léon Walras
1377:Supply-side
1210:Accelerator
1119:Stagflation
1104:Price level
999:Demand-pull
546:Game theory
316:Information
240: [
172:Institution
6111:Categories
6077:David Card
5191:Tim Besley
4878:Roy Radner
4848:Frank Hahn
4645:Presidents
4191:Literature
4072:David Card
4027:Paul Romer
3424:2002–2003
3185:References
2694:. London:
1940:Paul Romer
1538:John Hicks
1468:Adam Smith
1426:Circuitism
1416:Ecological
1404:Chartalism
1355:Monetarism
1333:Mainstream
1230:Solow–Swan
1205:Multiplier
1162:Commercial
1058:Endogenous
1016:Investment
753:Tax reform
683:Free trade
668:Fiat money
422:Monetarism
264:Paul Romer
112:Rita Cohen
53:1937-09-15
5783:1976–2000
5622:1951–1975
5461:1926–1950
5324:1901–1925
5277:1886–1900
4900:1976–2000
4739:1951–1975
4656:1931–1950
4583:John Long
4277:(Germany)
4204:(Ireland)
4160:Chemistry
4153:laureates
3563:1976–2000
3480:1969–1975
3469:Laureates
3416:President
3385:President
3286:Channel 4
2975:August 2,
2900:0347-0520
2696:Routledge
2542:0190-8286
2391:August 2,
2095:154875771
2052:CiteSeerX
2050:: 19–46.
2021:CiteSeerX
1636:Economics
1478:Karl Marx
1393:Heterodox
1372:Stockholm
1338:Keynesian
1109:Recession
1004:Cost-push
994:Inflation
949:Deflation
481:Lucas Jr.
350:Movements
195:tradition
85:Education
4758:René Roy
4227:(Canada)
4176:(Mexico)
3034:Archived
2997:(1989).
2948:Archived
2686:(1999).
2658:EconTalk
2601:EconomiA
2274:See also
2206:April 9,
1829:and the
1620:See also
1399:Austrian
1157:Monetary
1146:Policies
977:Rational
972:Adaptive
898:a series
896:Part of
748:Tax cuts
504:Theories
230:students
228:Doctoral
205:Doctoral
145:Children
4647:of the
4236:Physics
3471:of the
3418:of the
3387:of the
3326:Awards
3313:. 2008.
3172:May 18,
3146:May 20,
3103:May 20,
3079:May 20,
2908:3440576
2854:May 20,
2829:May 18,
2754:May 18,
2668:May 18,
2633:2515932
2569:(ed.).
2547:May 20,
2510:May 17,
2470:May 21,
2264:6319313
2116:2006549
1792:Marxist
1641:Applied
1438:Marxian
1328:Schools
567:finance
491:Stigler
486:Schultz
411:Beliefs
207:advisor
131:
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1930:(with
1798:Career
1456:People
1184:Models
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1129:Saving
989:Growth
600:choice
476:Knight
461:Sowell
446:Becker
439:People
310:(1995)
304:Awards
125:
63:, U.S.
5155:]
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4342:1995
4211:Peace
4149:1995
3393:1997
3353:1995
3037:(PDF)
3030:(PDF)
2951:(PDF)
2928:. In
2926:(PDF)
2904:JSTOR
2341:Notes
2260:S2CID
2112:JSTOR
2091:S2CID
1810:) at
1806:(now
1277:NAIRU
1195:AD–AS
1190:IS–LM
1053:Money
622:Ideas
571:trade
456:Fogel
451:Coase
244:]
162:Field
121:(
117:
4367:2000
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2229:help
2208:2019
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1871:and
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1343:Neo-
1250:DSGE
944:CAGR
127:1959
69:Died
43:Born
3197:doi
3060:doi
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2619:hdl
2609:doi
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2195:doi
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1348:New
1092:SNA
1041:NNI
1036:GNI
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551:GDP
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318:at
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