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Lectures on Economic Growth
In this book, Robert Lucas brings together several of his seminal papers on the subject, together with the Kuznets Lectures that he gave at Yale University, to present a coherent view of economic growth."--BOOK JACKET.
Collected Papers on Monetary Theory
Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange. Lucas’s contributions are both methodological and substantive. Methodologically, he developed dynamic, stochastic, general equilibrium models to analyze economic decision-makers operating through time in a complex, probabilistic environment. Substantively, he incorporated the quantity theory of money into these models and derived its implications for money growth, inflation,...
Recursive Methods in Economic Dynamics
This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied.
Models of Business Cycles
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.
Why Doesn't Capital Flow from Rich to Poor Countries?
Robert Lucas is known among economists as one of the most influential macroeconomists of recent times--a reputation founded in no small part on the critical thinking skills displayed in his seminal 1990 paper 'Why Doesn';t Capital Flow from Rich to Poor Countries?'; Lucas's paper tackles a puzzle in economic theory that has since come to be known as the 'Lucas paradox, '; and it deploys the author';s brilliant problem solving skills to explain why such an apparent paradox in fact makes sense. Classical economic theory makes a simple prediction of how capital flows between countries: it should, it states, flow from rich to poor countries, because of the law of diminishing returns on capital. ...
Studies in Business-cycle Theory
An academic colleague has called Lucas "the dominant figure in Americanmacroeconomics." And another refers to this group of 14 essays, nearly all of which were firstpublished during the 1970s, as the most influential contribution to macroeconomics in thatdecade.
Rational Expectations and Econometric Practice
Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme.
The Theory of New Classical Macroeconomics
This book examines new classical macroeconomics from a comparative and critical point of view that confronts the original texts and later comments as a first dimension of comparison. The second dimension appears in a historical context, since none of the new classical doctrines can be analyzed ignoring the parallelism and discrepancies with the theory of Keynes, Friedman or Phelps. Radicalism of new classical macroeconomics has brought fundamental changes in economic thought, but the doctrines got vulgarized and distorted thanks to the mass of followers. Nowadays, economic theory and policy, trying to find their ways, have a less clear relationship than ever. Therefore, this volume is aimed ...
The Art and Practice of Economics Research
ïIn this book, Simon Bowmaker offers a remarkable collection of conversations with leading economists about research in economics. He has selected a broad sample of the great economists of our time, including people whose perspectives span most of the major subdivisions of economics research, from micro to macro, from theoretical to empirical, from rationalist to behavioral.Í _ From the foreword by Roger B. Myerson, University of Chicago, US and 2007 Nobel Laureate in Economics ïThe Art and Practice of Economics Research is the book I wish I had when I was ñgrowing upî as an economist. For anyone who is or wants to be an economic researcher, or anyone just interested in how economics ñ...
Conversations with Economists
A collection of interviews with 11 of the nation's leading economic theorists providing an introduction to current issues in economic theory and to the ways in which economists think.
