Models of Business-Cycles - Lucas, Robert E.

Models of Business-Cycles

Robert E. Lucas

Yayınevi: Blackwell

Yayın tarihi: 12/1987

ISBN: 9780631147916

İngilizce | 128 Sayfa | 216 mm * 138 mm

Tür: Ekonomi

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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.

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