Robert E. Lucas

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Robert Emerson Lucas Jr. (* 15. September 1937 in Yakima , Washington ) is an American economist and was awarded the Alfred Nobel Memorial Prize for Economics of the year 1995 . He became known, among other things, for the Lucas criticism named after him . Lucas is in the intellectual history of economics of the new classical macroeconomics associate.

Life

Lucas graduated from the University of Chicago with a bachelor's degree in history in 1959 and a doctorate in economics in 1968. He then taught at Carnegie Mellon University's Graduate School of Industrial Administration (now Tepper School of Business) until 1975 , before becoming a professor in Chicago became.

Lucas' ex-wife had stated in the divorce papers in 1988 that if her husband won a Nobel Prize, she would receive half the money within the next seven years. Lucas commented on the agreement with his wife by saying that a deal was a deal. Lucas is married to the economist Nancy Stokey .

In 2002, Lucas served as President- Elect of the American Economic Association . He has also been a member of the American Academy of Arts and Sciences since 1980, a member of the National Academy of Sciences since 1981, and a member of the American Philosophical Society since 1997 .

Act

In 1995 Lucas received the Nobel Prize in Economics for the theory of rational expectations he applied to macroeconomics . In doing so, he took up ideas from John F. Muth , who originally developed the theory for microeconomics. The Lucas paradox consists in the question of why more capital does not flow from countries with developed economies to developing countries, although this should happen according to the classical theory, since there the capital employed per labor is lower.

Fonts (selection)

  • Expectations and the Neutrality of Money , Journal of Economic Theory, Volume 4, 1972, pp. 103-124
  • Econometric Policy Evaluation: A Critique , Carnegie-Rochester Conference Series on Public Policy, Volume 1, 1976, pp. 19-46
  • On the Mechanics of Economic Development , Journal of Monetary Economics, Volume 22, 1988, pp. 3-42
  • Why Doesn't Capital Flow from Rich to Poor Countries , American Economic Review, Volume 80, 1990, pp. 92-96
  • Studies in Business-Cycle Theory , MIT Press, 1981
  • Monetary Neutrality , Nobel Lecture 1995
  • with Nancy Stokey , Edward Prescott : Recursive Methods in Economic Dynamics. Harvard University Press, 1989

Web links

Individual evidence

  1. ^ Past and Present Officers. aeaweb.org ( American Economic Association ), accessed October 21, 2015 .
personal data
SURNAME Lucas, Robert E.
ALTERNATIVE NAMES Lucas, Robert Emerson (full name)
BRIEF DESCRIPTION American economist
DATE OF BIRTH September 15, 1937
PLACE OF BIRTH Yakima , Washington