WorldCat Identities

Lucas, Robert E. Jr

Works: 101 works in 479 publications in 7 languages and 9,039 library holdings
Genres: History 
Roles: Author, Editor, Other
Publication Timeline
Most widely held works by Robert E Lucas
Studies in business-cycle theory by Robert E Lucas( Book )

54 editions published between 1981 and 2012 in 4 languages and held by 1,931 WorldCat member libraries worldwide

Real wages, employment, and inflation; Unemployment in the great depression: is there a full explanation? Expectations and the neutrality of money; Econometric testing of the natural rate hypothesis; Econometric policy evaluation: a critique; Some international evidence on output-inflation tradeoffs; Capacity, overtime, and empirical production functions; Equilibrium search and unemployment; An equilibrium model of the business cycle; Understanding business cycles; Uneployment policy; Rules, discretion and the role of the economic advisor; Methods and problems in business cycle theory
Rational expectations and econometric practice by Robert E Lucas( )

62 editions published between 1977 and 2011 in English and held by 1,908 WorldCat member libraries worldwide

Assumptions about how people form expectations for the future shape the properties of any dynamic economic model. To make economic decisions in an uncertain environment people must forecast such variables as future rates of inflation, tax rates, governme
Recursive methods in economic dynamics by Nancy L Stokey( Book )

34 editions published between 1989 and 2004 in English and held by 1,078 WorldCat member libraries worldwide

Models of business cycles by Robert E Lucas( Book )

30 editions published between 1987 and 2013 in 4 languages and held by 739 WorldCat member libraries worldwide

"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."--Back cover
Lectures on economic growth by Robert E Lucas( Book )

20 editions published between 2002 and 2005 in 4 languages and held by 553 WorldCat member libraries worldwide

In this book the Nobel Prize-winning economist Robert Lucas collects his writings on economic growth, from his seminal On the Mechanics of Economic Development, to his previously unpublished 1997 Kuznets Lectures
Menu costs and Phillips curves by Mikhail Golosov( )

11 editions published in 2003 in English and held by 89 WorldCat member libraries worldwide

This paper develops a model of a monetary economy in which individual firms are subject to idiosyncratic productivity shocks as well as general inflation. Sellers can change price only by incurring a real menu cost.' We calibrate this cost and the variance and autocorrelation of the idiosyncratic shock using a new U.S. data set of individual prices due to Klenow and Kryvtsov. The prediction of the calibrated model for the effects of high inflation on the frequency of price changes accords well with the Israeli evidence obtained by Lach and Tsiddon. The model is also used to conduct numerical experiments on the economy's response to credible and incredible disinflations and other shocks. In none of the simulations we conducted did monetary shocks induce large or persistent real responses
General equilibrium analysis of the Eaton-Kortum model of international trade by Fernando Alvarez( )

10 editions published in 2005 in English and held by 86 WorldCat member libraries worldwide

We study a variation of the Eaton-Kortum model, a competitive, constant-returns-to-scale multicountry Ricardian model of trade. We establish existence and uniqueness of an equilibrium with balanced trade where each country imposes an import tariff. We analyze the determinants of the cross-country distribution of trade volumes, such as size, tariffs and distance, and compare a calibrated version of the model with data for the largest 60 economies. We use the calibrated model to estimate the gains of a world-wide trade elimination of tariffs, using the theory to explain the magnitude of the gains as well as the differential effect arising from cross-country differences in pre-liberalization of tariffs levels and country size
Real effects of monetary shocks in an economy with sequential purchases by Robert E Lucas( Book )

11 editions published in 1993 in English and held by 79 WorldCat member libraries worldwide

We study the effects of monetary disturbances in an economy in which sellers must deal with potential buyers in sequence, rather than being able to sell their goods in a Walrasian auction market. Because of the structure of trading assumed, the current state of demand is not revealed to sellers until after the process of sequential transactions has concluded. As a consequence, unanticipated changes in nominal spending flows induce less-than-proportional responses in nominal transaction prices, and changes in the same direction in real output. These effects are similar to those obtained if sellers must commit themselves in advance to money prices, but do not depend upon any cost of changing prices. We fully characterize the stationary intertemporal equilibrium of an economy subject to i.i.d. money supply shocks. We show how the ex ante distribution of monetary shocks affects sellers' pricing strategies, and hence the equilibrium relation between the money supply, the distribution of transaction prices, and the degree to which available productive capacity is utilized
Trade and the diffusion of the industrial revolution by Robert E Lucas( )

8 editions published in 2007 in English and held by 65 WorldCat member libraries worldwide

A model is proposed to describe the evolution of real GDPs in the world economy that is intended to apply to all open economies. The five parameters of the model are calibrated using the Sachs-Warner definition of openness and time-series and cross-section data on incomes and other variables from the 19th and 20th centuries. The model predicts convergence of income levels and growth rates and has strong but reasonable implications for transition dynamics
Knowledge growth and the allocation of time by Robert E Lucas( )

8 editions published between 2011 and 2014 in English and held by 60 WorldCat member libraries worldwide

We analyze a model economy with many agents, each with a different productivity level. Agents divide their time between two activities: producing goods with the production-related knowledge they already have, and interacting with others in search of new, productivity-increasing ideas. These choices jointly determine the economy's current production level and its rate of learning and real growth. Individuals' time allocation decisions depend on the knowledge distribution because the productivity levels of others determine their own chances of improving their productivities through search. The time allocations of everyone in the economy in turn determine the evolution of its knowledge distribution. We construct the balanced growth path for this economy, thereby obtaining a theory of endogenous growth that captures in a tractable way the social nature of knowledge creation. We also study the allocation chosen by an idealized planner who takes into account and internalizes the external benefits of search, and tax structures that implement an optimal solution. Finally, we provide two examples of alternative learning technologies, as concrete illustrations of other directions that might be pursued
Efficiency and equality in a simple model of efficient unemployment insurance by Andrew Atkeson( Book )

12 editions published in 1993 in English and held by 60 WorldCat member libraries worldwide

Models of idea flows by Fernando Alvarez( )

8 editions published in 2008 in English and held by 59 WorldCat member libraries worldwide

This paper introduces several variations of the Eaton and Kortum (1999) model of technological change and characterizes their long run implications. Both exogenous and endogenous growth examples are studied
Ideas and growth by Robert E Lucas( )

8 editions published in 2008 in English and held by 58 WorldCat member libraries worldwide

This paper introduces and partially develops a new model of endogenous technological change, viewed as the product of a class of problem-solving producers. The model, based on earlier work by Eaton and Kortum, is built up from the premise that all knowledge resides in the head of some individual person and the knowledge of a firm, or economy, or any group of people is simply the knowledge of the individuals that comprise it. The model is applied to an economy with a cohort structure. A calibration the model using cross-section earnings data, in addition to aggregate GDP growth, is considered
What was the Industrial Revolution? by Robert E Lucas( )

4 editions published in 2017 in English and held by 56 WorldCat member libraries worldwide

At some point in the first half of the 19th century per capita GDP in the United Kingdom and the United States began to grow at something like one to two percent per year and have continued to do so up to the present. Now incomes in many economies routinely grow at 2 percent per year and some grow at much higher "catch-up" rates. These events surely represent a historical watershed, separating a traditional world in which incomes of ordinary working people remained low and fairly stable over the centuries from a modern world where incomes increase for every new generation. This paper uses Gary Becker's theory of a "quantity/quality trade-off," consistent both with Malthusian population dynamics (quantity) and with demographic transition (quality), to identify a limited set of forces that were central to this revolution
Financial innovation and the control of monetary aggregates : some evidence from Canada by Robert E Lucas( )

5 editions published in 1983 in English and held by 46 WorldCat member libraries worldwide

This paper presents an empirical test of the proposition that control of a monetary aggregate will generate a rise in its velocity. The test is carried out utilizing the Canadian experience of controlling Ml growth from 1975:3 to 1982:3. Section One of the paper presents evidence of the instability of the Canadian demand from Ml money since 1975:3. Section Two develops a specific form of the proposition which emphasizes the role of asset substitution between classes of chartered bank deposits. A relative asset demand equation is derived from a wealth maximization model subject to a technological transactions constraint and this equation is estimated from 1961 through 1982. The results lend support to the proposition that central bank control of Ml generated a rise in Ml velocity
Money and interest in a cash-in-advance economy by Robert E Lucas( )

7 editions published between 1984 and 1987 in English and held by 46 WorldCat member libraries worldwide

In this paper we analyze an aggregative general equilibrimi model in which the use of money is motivated by a cash-in-advance constraint, applied to purchases of a subset of consumption goods. The system is subject to both real and monetary shocks, which are economy-wide and observed by all. We develop methods for verifying the existence of, characterizing, and explicitly calculating equilibria. A main result of the analysis is that current money growth affects the current real allocation only insofar as it affects expectations about future money growth, i.e., only through its value as a signal
Idea Flows, Economic Growth, and Trade by Fernando Alvarez( )

5 editions published in 2013 in English and held by 44 WorldCat member libraries worldwide

We provide a theoretical description of a process that is capable of generating growth and income convergence among economies, and where freer trade has persistent, positive effects on productivity, beyond the standard efficiency gains due to reallocation effects. We add to a standard Ricardian model a theory of endogenous growth where the engine of growth is the flow of ideas. Ideas are assumed to diffuse by random meetings where people get new ideas by learning from the people they do business with or compete with. Trade then has a selection effect of putting domestic producers in contact with the most efficient foreign and domestic producers. We analyze the way that trade in goods, and impediments to it, affect this diffusion. We find that exclusion of a country from trade reduces productivity growth, with large long-term effects. Smaller trade costs have moderate effects on productivity
Learning, career paths, and the distribution of wages by Santiago Caicedo Soler( )

7 editions published in 2016 in English and held by 38 WorldCat member libraries worldwide

We develop a theory of career paths and earnings in an economy in which agents organize in production hierarchies. Agents climb these organizational hierarchies as they learn stochastically from other individuals. Earnings grow over time as agents acquire knowledge and occupy positions with larger numbers of subordinates. We contrast these and other implications of the theory with U.S. census data for the period 1990 to 2010. The model matches well the Lorenz curve of earnings as well as the observed mean experience-earnings profiles. We show that the increase in wage inequality over this period can be rationalized with a shift in the distribution of the complexity and profitability of technologies relative to the distribution of knowledge in the population
'Lucas' in the laboratory by Elena Asparouhova( )

1 edition published in 2013 in English and held by 38 WorldCat member libraries worldwide

This paper reports on experimental tests of an instantiation of the Lucas asset pricing model with heterogeneous agents and time-varying private income streams. Central features of the model (infinite horizon, perishability of consumption, stationarity) present difficult challenges and require a novel experimental design. The experimental evidence provides broad support for the qualitative pricing and consumption predictions of the model (prices move with fundamentals, agents smooth consumption) but sharp differences from the quantitative predictions emerge (asset prices display excess volatility, agents do not hedge price risk). Generalized Method of Moments (GMM) tests of the stochastic Euler equations yield very different conclusions depending on the instruments chosen. It is suggested that the qualitative agreement with and quantitative deviation from theoretical predictions arise from agents' expectations about future prices, which are almost self-fulfilling and yet very different from what they would need to be if they were exactly self-fulfilling (as the Lucas model requires) -- National Bureau of Economic Research web site
On the mechanics of economic development by Robert E Lucas( Book )

9 editions published between 1986 and 1988 in English and held by 37 WorldCat member libraries worldwide

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Audience level: 0.38 (from 0.12 for Studies in ... to 0.89 for La macroé ...)

Recursive methods in economic dynamics
Recursive methods in economic dynamicsModels of business cyclesLectures on economic growthThe legacy of Robert Lucas, Jr.Milton Friedman, Robert E. Lucas, Jr. and Edmund S. Phelps
Alternative Names
Emerson Lucas, Robert 1937-

Lucas, Robert E.

Lucas, Robert E. 1937- Jr

Lucas, Robert E. 1937- jun

Lucas, Robert E.B. 1937-

Lucas, Robert E. Jr. 1937-

Lucas, Robert E. jun. 1937-

Lucas, Robert Emerson.

Lucas, Robert Emerson 1937-...

Robert E. Lucas

Robert E. Lucas americký ekonóm

Robert E. Lucas économiste américain

Robert E. Lucas US-amerikanischer Ökonom

Robert Emerson Lucas

Robert Lucas American economist

Robert Lucas Amerikaans econoom

Robert Lucas amerikansk ekonom

Robert Lucas amerikansk økonom

Robert Lucas economist american

Robert Lucas economista estadounidense

Robert Lucas economista estatunidenc

Robert Lucas economista statunitense

Robert Lucas, Jr amerikansk økonom

Robert Lucas Jr ekonomista amerykański, noblista

Robert Lucas mladší

Robert Lukas

Robertus Emerson Lucas

Лукас мл

Лукас Р. мл. 1937-

Лукас, Роберт

Роберт Емерсон Лукас

Роберт Лукас

Робърт Лукас

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רוברט לוקאס

רוברט לוקאס כלכלן אמריקאי

رابرٹ لوکس

رابرٹ لیوکس

روبرت امرسون لوکاس اقتصاددان آمریکایی

روبرت لوكاس جونيور

روبرت لوكاس جونيور عالم اقتصاد أمريكي

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