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An agenda without a plan: Robert E Lucas's trajectory through the public debate
Goutsmedt, Aurélien; Guizzo, Danielle; Sergi, Francesco - 2018
. It investigates how he interacted with the public debate by envisioning key principles of his macroeconomic theory and …
Persistent link: https://www.econbiz.de/10011904609
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Modern Monetary Policy Evaluation and the Lucas Critique
Israel, Karl-Friedrich - 2018
We can divide modern mainstream approaches to monetary policy evaluation in roughly four groups: large-scale Keynesian macroeconometrics, Monetarism, New Classical macroeconomics, and the most recent consensus approach of New Keynesian DSGE modeling. In a brief historical overview it is shown...
Persistent link: https://www.econbiz.de/10012907413
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Do heterogeneous expectations constitute a challenge for policy interaction?
Gasteiger, Emanuel - 2016
Yes, indeed; at least for macroeconomic policy interaction. We examine a Neo-Classical economy and provide the conditions for policy arrangements to successfully stabilize the economy when agents have either rational or adaptive expectations. For a contemporaneous-data monetary policy rule, the...
Persistent link: https://www.econbiz.de/10011513023
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The legacy of Robert Lucas, Jr.
Hoover, Kevin D. (contributor) - 1999
Persistent link: https://www.econbiz.de/10001389085
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Maastricht : New and Old Rules
Spinelli, Franco - 2010
Thanks to the Maastricht Treaty and similar arrangements, central banks nowadays enjoy considerable independence. This is generally believed to be the result of relatively recent debates, which led to the conclusion that sheltering monetary authorities from the pressures of fiscal policymakers...
Persistent link: https://www.econbiz.de/10012716657
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Lucas on the relationship between theory and ideology
De Vroey, Michel - 2011
. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas's non …-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of … "non-interference" precept (the proposition that ideological viewpoints should not influence theory), and the "non …
Persistent link: https://www.econbiz.de/10008842231
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Lucas on the Lucasian Transformation of Macroeconomics : An Assessment
De Vroey, Michel R. - 2010
Robert Lucas is rightfully credited with having changed the course of macroeconomic theory. The aim of this paper is to …
Persistent link: https://www.econbiz.de/10013136861
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Lucas on the Relationship between Theory and Ideology
De Vroey, Michel - 2011
. Particular attention is paid to his views on the relationship between theory and ideology. I start by setting out Lucas's non …-standard conception of theory: to him, a theory and a model are the same thing. I also explore the different facets and implications of … 'non-interference' precept (the proposition that ideological viewpoints should not influence theory), and the 'non …
Persistent link: https://www.econbiz.de/10013210313
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The cost of omitting the credit channel in DSGE models : a policy mix approach
Yagihashi, Takeshi - 2020 - This version: March, 2020
Persistent link: https://www.econbiz.de/10013272874
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Optimal monetary policy rules in an estimated sticky-information model
Reis, Ricardo - In: American economic journal : a journal of the American … 1 (2009) 2, pp. 1-28
Persistent link: https://www.econbiz.de/10003873634