Models of Business Cycles
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A01=Robert E. Lucas
alternative
Author_Robert E. Lucas
brilliant exponent
Category=KCB
consequences
consumption
decade
elegant
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
forefront
lucas
macroeconomic
models
monetary
past
policy
recent developments
remarkable
robert
schools
streams
survey
theory
transformation
usefulness
Product details
- ISBN 9780631147916
- Weight: 170g
- Dimensions: 140 x 217mm
- Publication Date: 22 Jan 1987
- Publisher: John Wiley and Sons Ltd
- Publication City/Country: GB
- Product Form: Paperback
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In the past decade macroeconomic theory has undergone a remarkable transformation. At the forefront has been the "rational expectations revolution," and this school's most brilliant exponent is Robert E. Lucas.
In this elegant and relatively non-technical survey, Lucas reviews the nature and consequences of recent developments in monetary and business cycle theory. He discusses the usefulness of alternative models in determining the effects of economic policy on consumption streams and individual welfare. Drawing on a specific model of aggregate activity which represents the current frontier in business cycle research, he then examines the contemporary theory of unemployment. Finally and most controversially, he explores the role of monetary disturbances.
Robert E. Lucas Jr is Professor of Economics at the University of Chicago.
