Models of Business Cycles

by Robert E. Lucas Jr.

Overview

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.

Product Details

ISBN-13:	9780631147916
Publisher:	Wiley
Publication date:	01/08/1991
Series:	Yrjo Jahnsson Lectures Series
Pages:	128
Product dimensions:	5.53(w) x 8.54(h) x 0.38(d)

About the Author

Robert E. Lucas Jr is Professor of Economics at the University of Chicago.

Table of Contents

Preface.

Section I.

Section II.

Section II.

Section III.

Section IV.

Section V.

Section VI.

Section VII.

Section VIII.

Index.

Editorial Reviews

"His brilliance and versatility as an economic theorist cannot be disputed. Much of value will come from the impetus given to the study of macroeconomic theory and policy by the endeavours of Professor Lucas." Kyklos

From the Publisher