Search Results - subject_exact:"Lucas critique"

Inflation persistence, the stability of money demand, and the natural rate of interest

Benati, Luca - 2026

Evidence since the XIX century shows that whereas the demand for M1 is uniformly stable (Benati, Lucas, Nicolini, and Weber, 2021), the demand for broader aggregates is stable under monetary regimes making inflation strongly mean-reverting-such as the Gold Standard and inflation-targeting-but it...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015604527

Lucas's "Keynesian education" and the new classical aggregate supply

Galbács, Peter; Laidler, David E. W. - 2026

This paper investigates how Robert E. Lucas came to adopt the market clearing aggregate supply framework that would be foundational for New Classical macroeconomics. Drawing on Lucas's own recollections, the record of his mid-1960s research, and Lucas and Rapping (1969) in particular, we show...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671473

Monetary theory of production : revolutionary or not microfounded?

Sousa, Felipe - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652534

Bilateral Lucas paradox

Morito, Yasumasa; Ueda, Kenichi - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014506766

The cost of omitting the credit channel in DSGE models : a policy mix approach

Yagihashi, Takeshi - 2020 - This version: March, 2020

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013272874

A private account of Leitmann's approach to stabilizing uncertain economic systems

Deissenberg, Christophe - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015549174

Using a consumption function to explain the Lucas Critique to undergraduate students

Gomes da Silva, Cleomar; Gomes, Fábio A. - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015469104

Workbook for macroeconomic theory : fluctuations, inflation and growth in closed and open economies

Barbosa, Fernando de Holanda; Lima Júnior, Luiz Antônio - 2025 - Second edition

This book presents the answers to the exercises in Macroeconomic Theory, Fluctuations, Inflation and Growth in Closed and Open Economies, 2nd Edition, by Fernando de Holanda Barbosa (Cham, Switzerland: Springer, 2024), hereafter referred as Macro Theory. Altogether, there are 170 exercises in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015373594

What can time-series regressions tell us about policy counterfactuals?

McKay, Alisdair; Wolf, Christian - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014434198

Show one more version 1

What can time-series regressions tell us about policy counterfactuals?

McKay, Alisdair; Wolf, Christian - 2023 - This version: February 2023

Edition: This version: February 2023

Book / Working Paper

Lucas, modern macroeconomics and the post Keynesians

Olesen, Finn - 2024

As one of the founding fathers of the New Classical school of thought, Robert E. Lucas has made several important contributions. As such, his thinking had an immense impact on what later became modern mainstream macroeconomics (New Neoclassical Synthesis). In the present chapter, the focus is...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014485690

History of Economic Thought's place in macroeconomics revisited

Laidler, David E. W. - 2023

The History of Economics Society was founded at a time when the History of Economic Thought was being expelled from the Economics post-graduate curriculum in many universities, and was one of the key institutions around which the sub-discipline successfully re-organised itself and continued to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014460391

Peter Howitt: A Keynesian still in Recovery

Laidler, David E. W. - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015445627

Show one more version 1

Peter Howitt - a Keynesian still in recovery

Laidler, David E. W. - 2022

Book / Working Paper

Lucas (1972) a personal view from the wrong side of the subsequent fifty years

Laidler, David E. W. - 2024

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015445685

Show one more version 1

Lucas (1972), a personal view from the wrong side of the subsequent fifty years

Laidler, David E. W. - 2021

Book / Working Paper

Using a consumption function to explain the Lucas Critique to undergraduate students

Gomes da Silva, Cleomar; Gomes, Fábio A. - 2023

Purpose The purpose of this paper is to contribute to the teaching of undergraduate macroeconomics. Design/methodology/approach To suggest a roadmap, based on a consumption function, to be used by instructors willing to teach the Lucas Critique subject. Findings Therefore, this paper proposes a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014418037

Exploring the trade-off between leaning against credit and stabilizing real activity

Benati, Luca - 2022

Evidence from monetary VARs for ten countries points towards an unfavorable trade-off between leaning against credit fluctuations and stabilizing real economic activity. Results are robust both across countries, and based on two alternative approaches, i.e. either (i) focusing on the impact of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013256600

Show one more version 1

Exploring the trade-off between leaning against credit and stabilizing real activity

Benati, Luca - 2022

Book / Working Paper

Policy implications of the Lucas Critique empirically tested along the global financial crisis

Karimova, Amira; Simsek, Esra; Orhan, Mehmet - 2020

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012498595

A semistructural methodology for policy counterfactuals

Beraja, Martin - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013548022

The economics of deferral and clawback requirements

Hoffmann, Florian; Inderst, Roman; Opp, Marcus M. - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013279833

Show one more version 1

The Economics of Deferral and Clawback Requirements

Hoffmann, Florian; Inderst, Roman; Opp, Marcus M. - 2021

Book / Working Paper

Exploring the trade-off between leaning against credit and stabilizing economic activity

Benati, Luca - 2023

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014234173

An agenda without a plan : Robert E Lucas's trajectory through the public debate

Goutsmedt, Aurélien; Guizzo, Danielle; Sergi, Francesco - 2018

This article explores Robert E. Lucas's policy agenda and his engagement with the public debate between 1968 and 1987. It investigates how he interacted with the public debate by envisioning key principles of his macroeconomic theory and methodology, and how he promoted his policy agenda. An...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011899140

Long-run evidence on the quantity theory of money

Benati, Luca - 2021

Evidence from low-frequency regressions for 27 countries since the XVIII century suggests that the relationship between broad money growth and inflation has been mostly one-for-one, and largely invariant to changes in the monetary regime. There is little evidence that the relationship had been...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012597092

Show one more version 1

Long-run evidence on the quantity theory of money

Benati, Luca - 2021

Book / Working Paper

Practical policy evaluation

Kocherlakota, Narayana Rao - 2019

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012264872

The joint dynamics of money and credit multipliers since the gold standard era

Benati, Luca - 2021

Since the XIX century, technological progress has allowed commercial banks to create ever greater amounts of broad money and credit starting from a unit of monetary base. Crucially, however, at the very low frequencies the relative amounts of the two aggregates created out of a unit of base...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012610410

Show one more version 1

The joint dynamics of money and credit multipliers since the gold standard era

Benati, Luca - 2021

Book / Working Paper

Spatial‐SIR with network structure and behavior : lockdown rules and the Lucas critique

Bisin, Alberto; Moro, Andrea - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013387083

What Can Time-Series Regressions Tell Us About Policy Counterfactuals?

Wolf, Christian; McKay, Alisdair - 2022

We show that, in a general family of linearized structural macroeconomic models, knowledge of the empirically estimable causal effects of contemporaneous and news shocks to the prevailing policy rule is sufficient to construct counterfactuals under alternative policy rules. If the researcher is...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013362012

Financial Efficiency and the Lucas Puzzle

Goren, Amir - 2021

I present a model that provides a theoretical solution to the Lucas Puzzle using Financial Efficiency, which is a time-varying component of TFP. The model predicts that a financially underdeveloped economy is to benefit from financial integration through FDI capital inflow only if it experiences...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013243308

How Uzawa differs from Lucas

Sasakura, Kazuyuki - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013398122

A linearized version of Lucas's neutrality model

McCallum, Bennett T. - 1983

Persistent link: https://ebvufind01.dmz1.zbw.eu/10002410684

Show 2 more versions 2

A Linearized Version of Lucas'S Neutrality Model

McCallum, Bennett T. - 2021

Book / Working Paper

A Linearized Version of Lucas's Neutrality Model

McCallum, Bennett T. - 1983

Book / Working Paper

Monetary non-neutrality and stabilisation policies 50 years after Lucas's "expectations" paper : a roundtable discussion

2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013493180

New classicals and Keynesians, or the good guys and the bad guys

Barro, Robert J. - 1989

Persistent link: https://ebvufind01.dmz1.zbw.eu/10000767721

Show 3 more versions 3

New Classicals and Keynesians, or the Good Guys and the Bad Guys

Barro, Robert J. - 2021

Book / Working Paper

New Classicals and Keynesians, or the Good Guys and the Bad Guys

Barro, Robert J. - 1989

Book / Working Paper

New classicals and Keynesians, or the good guys and the bad guys

Barro, Robert J. - 1989

Book / Working Paper

The Lucas critique and the Volcker deflation

Blanchard, Olivier - 1984

Persistent link: https://ebvufind01.dmz1.zbw.eu/10001917726

Show 3 more versions 3

The Lucas critique and the Volcker deflation

Blanchard, Olivier - 1984

Book / Working Paper

The Lucas Critique and the Volcker Deflation

Blanchard, Olivier - 2021

Book / Working Paper

The Lucas Critique and the Volcker Deflation

Blanchard, Olivier J. - 1984

Book / Working Paper

Heterogeneity and dynamic dependence in panel analysis of individual behavior

Damrongplasit, Kannika; Hsiao, Cheng - 2022

The authors use a reduced form state-dependent labor participation decision model to illustrate that parameter stability is achieved only if a model properly takes account the observed sample heterogeneity and unobserved sample heterogeneity provided (external) conditions of a model stay...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013193935

Modest Policy Interventions

Leeper, Eric M.; Zha, Tao A. - 2021

We present a framework for computing and evaluating linear projections of macro variables conditional on hypothetical paths of monetary policy. A modest policy intervention is a change in policy that does not significantly shift agents' beliefs about policy regime and does not generate...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013247250

Show 3 more versions 3

Modest Policy Interventions

Leeper, Eric M. - 2015

Book / Working Paper

Modest Policy Interventions

Leeper, Eric M. - 2015

Book / Working Paper

Modest Policy Interventions

Leeper, Eric M. - 2002

Book / Working Paper

Introduction: Lucas's enduring impact on macroeconomic thinking

Galbács, Peter - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013170082

Lucas's way to his monetary theory of large-scale fluctuations

Galbács, Peter - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013170083

Keynesian, new Keynesian and new classical economics

Greenwald, Bruce C. N. - 1987

Persistent link: https://ebvufind01.dmz1.zbw.eu/10001037836

Show 2 more versions 2

Keynesian, New Keynesian, and New Classical Economics

Greenwald, Bruce C. N.; Stiglitz, Joseph E. - 2021

Book / Working Paper

Keynesian, New Keynesian, and New Classical Economics

Greenwald, Bruce C. - 1987

Book / Working Paper

The lasting influence of Robert E. Lucas on Chicago economics

Uhlig, Harald - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013170089

Show one more version 1

The lasting influence of Robert E. Lucas on Chicago economics

Uhlig, Harald - 2022

Book / Working Paper

Near-rationality and inflation in two monetary regimes

Ball, Laurence M. - 2000

Persistent link: https://ebvufind01.dmz1.zbw.eu/10001526143

Show 2 more versions 2

Near-Rationality and Inflation in Two Monetary Regimes

Ball, Laurence M. - 2021

Book / Working Paper

Near-Rationality and Inflation in Two Monetary Regimes

Ball, Laurence - 2000

Book / Working Paper

Dispersed information and the non-neutrality of money : fifty years after Lucas : 1972

Clerc, Pierrick; Dos Santos Ferreira, Rodolphe - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013170092

Economic Incentives and Social Preferences : A Preference-Based Lucas Critique of Public Policy

Bowles, Samuel; Polanía Reyes, Sandra - 2021

Policies and explicit private incentives designed for self-regarding individuals sometimes are less effective or even counterproductive when they diminish altruism, ethical norms and other social preferences. Evidence from 51 experimental studies indicates that this crowding out effect is...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013316339

Investigating inflation persistence across monetary regimes

Benati, Luca - 2008

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011604897

Show 2 more versions 2

Investigating Inflation Persistence Across Monetary Regimes

Benati, Luca - 2021

Book / Working Paper

Investigating inflation persistence across monetary regimes

Benati, Luca - 2008

Book / Working Paper

Inflation expectations : Australian consumer survey data versus the bond market

Basse, Tobias; Wegener, Christoph - 2022

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014228143

Debates in Macroeconomics from the Great Depression to the Long Recession : Cycles, Crises and Policy Responses

Arnon, Arie - 2022

This book assesses major schools of thought in macroeconomic theory between the Great Depression and the Long Recession, focusing on their analysis of cycles, crises and macro-policy. It explores the road from the dominance of Keynesian ideas to those of New Classical Macroeconomics (NCM) toward...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013192341

The "great moderation" in the United Kingdom

Benati, Luca - 2008

Persistent link: https://ebvufind01.dmz1.zbw.eu/10003636057

Show 3 more versions 3

The ‘Great Moderation’ in the United Kingdom

Benati, Luca - 2007

Book / Working Paper

The 'Great Moderation' in the United Kingdom

Benati, Luca - 2021

Book / Working Paper

The ‘Great Moderation’ in the United Kingdom

Benati, Luca - 2007

Book / Working Paper

Investigating inflation persistence across monetary regimes

Benati, Luca - 2008

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011604897

Show 2 more versions 2

Investigating Inflation Persistence Across Monetary Regimes

Benati, Luca - 2021

Book / Working Paper

Investigating inflation persistence across monetary regimes

Benati, Luca - 2008

Book / Working Paper

U.S. Evolving Macroeconomic Dynamics : A Structural Investigation

Benati, Luca; Mumtaz, Haroon - 2021

We fit a Bayesian time-varying parameters structural VAR with stochastic volatility to the Federal Funds rate, GDP deflator inflation, real GDP growth, and the rate of growth of M2. We identify 4 shocks-monetary policy, demand non-policy, supply, and money demand-by imposing sign restrictions on...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013317172

A Lucas Critique Compliant SVAR model with Observation-driven Time-varying Parameters

Bormetti, Giacomo; Corsi, Fulvio - 2021

We propose an observation-driven time-varying SVAR model where, in agreement with the Lucas Critique, structural shocks drive both the evolution of the macro variables and the dynamics of the VAR parameters. Contrary to existing approaches where parameters follow a stochastic process with random...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10013219496

Cordon of conformity : why DSGE models are not the future of macroeconomics

Storm, Servaas - 2021

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012623319

Edmond Malinvaud's criticisms of the new classical economics : restoring the nature and the rationale of the old Keynesians' opposition

Renault, Matthieu - 2020

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012437468

Show 2 more versions 2

Edmond Malinvaud's criticisms of the new classical economics: restoring the nature and the rationale of the Old Keynesians' opposition

Renault, Matthieu - 2018

Book / Working Paper

Edmond Malinvaud’s Criticisms of the New Classical Economics : Restoring the Nature and the Rationale of the Old Keynesians’ Opposition

Renault, Matthieu - 2021

Book / Working Paper

What did it mean for Lucas to set up "useful" analogue systems?

Galbács, Peter - 2020

This paper provides a look into what Lucas meant by the term 'analogue systems' and how he conceived making them useful. It is argued that any model can be regarded as an analogue system provided it has remarkable predictive success. The term is thus neutral in terms of usefulness. To be useful,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012207597