Models of Business Cycles
Models of Business Cycles
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Summary
In the past decade macroeconomic theory has undergone a remarkable transformation. At the forefront has been the "rational expectations revolution," and this schoola s most brilliant exponent is Robert E. Lucas.
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Models of Business Cycles by Robert Lucas
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.
"His brilliance and versatility as an economic theorist cannot be disputedMuch of value will come from the impetus given to the study of macroeconomic theory and policy by the endeavours of Professor Lucas." Kyklos
Robert E. Lucas Jr is Professor of Economics at the University of Chicago.
| SKU | Unavailable |
| ISBN 13 | 9780631147916 |
| ISBN 10 | 0631147918 |
| Title | Models of Business Cycles |
| Author | Robert Lucas |
| Condition | Unavailable |
| Binding Type | Paperback |
| Publisher | Wiley-Blackwell |
| Year published | 1991-01-08 |
| Number of pages | 128 |
| Cover note | Book picture is for illustrative purposes only, actual binding, cover or edition may vary. |
| Note | Unavailable |