Models of Business Cycles

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9780631147916: Models of Business Cycles
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In the past decade macroeconomic theory has undergone a remarkabletransformation. At the forefront has been the "rationalexpectations revolution," and this school's most brilliant exponentis Robert E. Lucas.

In this elegant and relatively non-technical survey, Lucas reviewsthe nature and consequences of recent developments in monetary andbusiness cycle theory. He discusses the usefulness of alternativemodels in determining the effects of economic policy on consumptionstreams and individual welfare. Drawing on a specific model ofaggregate activity which represents the current frontier inbusiness cycle research, he then examines the contemporary theoryof unemployment. Finally and most controversially, he explores therole of monetary disturbances.

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

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"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

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9780631147893: Models of Business Cycles (Yrjö Jahnsson lectures)

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ISBN 10:  0631147896 ISBN 13:  9780631147893
Publisher: Blackwell Publishers, 1987
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Book Description John Wiley and Sons Ltd, United Kingdom, 1991. Paperback. Condition: New. Reprint. Language: English . Brand New Book. In the past decade macroeconomic theory has undergone a remarkable transformation. At the forefront has been the rational expectations revolution, and this schoola 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. Seller Inventory # AAH9780631147916

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Book Description John Wiley and Sons Ltd, United Kingdom, 2002. Paperback. Condition: New. Reprint. Language: English. Brand new Book. In the past decade macroeconomic theory has undergone a remarkable transformation. At the forefront has been the "rational expectations revolution," and this schoola 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. Seller Inventory # AAH9780631147916

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