The Friedman-Lucas Transition in Macroeconomics
Author | : Peter Galbács |
Publisher | : Academic Press |
Total Pages | : 400 |
Release | : 2020-02-20 |
ISBN-10 | : 9780128165539 |
ISBN-13 | : 0128165537 |
Rating | : 4/5 (39 Downloads) |
Book excerpt: The Friedman-Lucas Transition in Macroeconomics: A Structuralist Approach considers how and to what extent monetarist and new classical theories of the business-cycle can be regarded as approximately true descriptions of a cycle's causal structure or whether they can be no more than useful predictive instruments. This book will be of interest to upper-division undergraduates, graduate students, researchers and professionals concerned with practical, theoretical and historical aspects of macroeconomics and business-cycle modeling. - Offers a wide selection of Robert Lucas's unpublished works - Discusses the history of business-cycle theories in the context of methodological advancements - Suggests effective arguments for emphasizing the key role of representative agents and their assumed properties in macro-modeling