Construct · 1 fields · 1 citations

lucas critique: a standalone construct

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Macroeconomics

the argument that relations estimated under one policy regime will shift when policy changes because agents' decision rules depend on policy.

In macroeconomics, lucas critique refers to the argument that relations estimated under one policy regime will shift when policy changes because agents' decision rules depend on policy. This meaning comes from Lucas (1976) in Carnegie-Rochester Conference Series on Public Policy.[1]

Unit
Recovery means
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Nearby constructs

argument3 fields · 3 citationsjingle · one word, three constructs policy regime perspective1 fields · 1 citationsanchor · a standalone construct policy2 fields · 4 citationsjingle · one word, two constructs

References

Lucas, R. E. (1976). Econometric policy evaluation: A critique. Carnegie-Rochester Conference Series on Public Policy, 1, 19-46. https://doi.org/10.1016/s0167-2231(76)80003-6

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