Nobel Laureate Robert E. Lucas, Jr.: architect of modern macroeconomics
Article Abstract:
Robert E. Lucas, Jr. was awarded the Nobel Memorial Prize for Economic Science in the fall of 1995. He formulated a coherent framework for interpreting the varied microeconomic theories developed by economists before him. In his academic paper 'Expectations and the Neutrality of Money,' he traced the impact of changing monetary policies on inflation, production and unemployment. He garnered further recognition in his 'Econometric Policy Evaluation: A Critique' in which he uncovered the drawbacks of using macroeconomic models for assessing economic policies.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 1998
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Where Ricardo and Mill rebut and confirm arguments of mainstream economists supporting globalization
Article Abstract:
Prominent and competent mainstream economists enter into the debate to educate and correct warm-hearted protestors who are against globalization. The study discuses that there is some suggestive evidence that French or German per-hour productivity do surpass the U.S. per-hour productivity.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 2004
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Modern macroeconomics in practice: how theory is shaping policy?
Article Abstract:
The trends of implementation of economic theory by economists during the formulation of economic policy, over the last three decades, are described.
Publication Name: Journal of Economic Perspectives
Subject: Economics
ISSN: 0895-3309
Year: 2006
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