This paper attempts to resolve the paradox of Friedmanian monetary theory: “Money is a veil, but when the veil flutters, real output sputters.”

07 Sep 2022 Leave a comment

by Jim Rose in business cycles, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics, Robert E. Lucas

From https://citeseerx.ist.psu.edu/viewdoc/download?doi=10.1.1.592.6178&rep=rep1&type=pdf

The Lucas Revolution 50 years ago

04 Sep 2022 Leave a comment

by Jim Rose in history of economic thought, macroeconomics, Robert E. Lucas

From https://www.minneapolisfed.org/article/2022/with-inflation-front-and-center-work-that-launched-rational-expectations-revolution-still-resonates

Expectations and the power of policy

03 Sep 2022 Leave a comment

by Jim Rose in applied price theory, business cycles, econometerics, fiscal policy, macroeconomics, monetary economics, Robert E. Lucas, unemployment

From https://www.minneapolisfed.org/article/2022/with-inflation-front-and-center-work-that-launched-rational-expectations-revolution-still-resonates

Robert Lucas on optimal taxation of capital

15 Jul 2022 Leave a comment

by Jim Rose in applied welfare economics, economic growth, macroeconomics, public economics, Robert E. Lucas

From https://www.minneapolisfed.org/article/1993/interview-with-robert-e-lucas-jr

The long-run relation between base money and inflation rates

24 Apr 2022 Leave a comment

by Jim Rose in economic history, macroeconomics, monetary economics, Robert E. Lucas

From https://files.stlouisfed.org/files/htdocs/publications/review/2014/q3/lucas.pdf

Lucas, the quantity theory and the GFC

23 Apr 2022 Leave a comment

by Jim Rose in business cycles, global financial crisis (GFC), macroeconomics, monetary economics, Robert E. Lucas

From https://files.stlouisfed.org/files/htdocs/publications/review/2014/q3/lucas.pdf

The Lucas critique summarised by Freeman and Champ

22 Apr 2022 Leave a comment

by Jim Rose in budget deficits, business cycles, economic growth, labour economics, labour supply, macroeconomics, monetarism, monetary economics, Robert E. Lucas

Freeman and Champ explain the Lucas revolution

15 Apr 2022 Leave a comment

by Jim Rose in business cycles, economic growth, history of economic thought, labour economics, labour supply, macroeconomics, monetarism, monetary economics, Robert E. Lucas, unemployment

Lucas hooks into Mankiw and Ball

19 Feb 2022 Leave a comment

by Jim Rose in business cycles, history of economic thought, macroeconomics, Robert E. Lucas

from https://www.reddit.com/r/Economics/comments/1w22mc/comments_on_ball_and_mankiw_robert_lucas_1994/

Robert Lucas: Labor Reform and Crisis Recovery

28 Jan 2022 Leave a comment

by Jim Rose in applied price theory, applied welfare economics, business cycles, comparative institutional analysis, econometerics, economic growth, economic history, economics of regulation, labour economics, labour supply, macroeconomics, Robert E. Lucas Tags:

Lucas: New Keynesian economics doesn’t seem to make contact with the questions that got us interested in macroeconomics in the first place.

17 Jan 2022 Leave a comment

Image by Jim Rose

Macroeconomic thought after the GFC

19 Nov 2021 Leave a comment

Image by Jim Rose

Inconvenient macroeconomic truths

09 Nov 2021 Leave a comment

Image by Jim Rose

From Frontiers of Business Cycle Research 1995

07 Nov 2021 Leave a comment

by Jim Rose in business cycles, econometerics, economic growth, economic history, Edward Prescott, labour economics, labour supply, macroeconomics, monetary economics, Robert E. Lucas Tags: ,

https://www.degruyter.com/document/doi/10.1515/9780691218052-011/html

Determining the Value of Money: Next Steps for the Fiscal Theory of the Price Level

07 Nov 2021 Leave a comment

by Jim Rose in applied price theory, budget deficits, business cycles, economic growth, economic history, Euro crisis, financial economics, fiscal policy, global financial crisis (GFC), great recession, history of economic thought, macroeconomics, Milton Friedman, monetarism, monetary economics, Robert E. Lucas Tags: ,

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