Lucas Critique

GPTKB entity

Statements (18)
Predicate Object
gptkbp:instanceOf gptkb:economic_policy
gptkbp:citation many macroeconomic studies
gptkbp:criticizedFor traditional econometric policy evaluation
gptkbp:field macroeconomics
gptkbp:fullTitle gptkb:Econometric_Policy_Evaluation:_A_Critique
gptkbp:hasConcept policy evaluation must account for changes in expectations
https://www.w3.org/2000/01/rdf-schema#label Lucas Critique
gptkbp:impact changed approach to macroeconomic modeling
gptkbp:influenced gptkb:rational_expectations_revolution
gptkbp:proposedBy gptkb:Robert_Lucas_Jr.
gptkbp:publishedIn gptkb:Econometrica
gptkbp:relatedTo rational expectations
macroeconomic policy
structural econometric models
gptkbp:requires structural parameters change with policy
gptkbp:yearProposed 1976
gptkbp:bfsParent gptkb:The_Brown_Critique
gptkbp:bfsLayer 7