Home > Robert Lucas Jr

Lucas was born in Yakima, Washington. Perhaps one of the most influential economists since the 1970s, he changed the foundations of macroeconomic theory (previously dominated by the Keynesian economics approach), arguing that a macroeconomic model should have micro-foundations.

He is well know for his investigations into the implications of the assumption of rational expectations. He developed the " Lucas critique" of economic policymaking, which held that the relationships that appear to hold in the economy, such as an apparent relationship between inflation and unemployment, would change in response to changes in economic policy.

1 See also

• Macroeconomics
• New classical economics
• Rational Expectations

• List of economistsEconomists are scholars conducting research in the field of economics. Alphabetical list Below is a list of well-known economists. For quick navigation, select one of these letters: A George Akerlof Maurice Allais Roy G D Allen Elisabeth Altmann-Gottheine
• List of economics consultancies and think tanksThis is a list of economic consultancies and think tanks Well-known think tanks Canada Atlantic Institute for Market Studies C. Howe Institute Canadian Institute of International Affairs Caledon Institute on Social Policy Canada West Foundation Canadian C
• Bank of Sweden Prize in Economic Sciences in Memory of Alfred NobelThe Bank of Sweden Prize in Economic Sciences ( Swe. Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne , often inaccurately called The Nobel Prize in Economics or The Nobel Prize for Economics is different from the rest of prizes awar

2 External link

• Biography