Add to ORKGLucas critique suggests parameter instability in usual policy multiplier based models, where the multipliers are estimated by running a regression of output on the relevant/hypothesized policy variables. I aim to test this implication for the U.S. economy using a simple aggregate demand and supply model, with rational expectations as the mechanism of expectation formation, given a money supply specification. The relevant data set (for inferential purposes) is quarterly, 1986:1 – 2005:4, with the exact model specification chosen from Heijdra and Ploeg
The 1970s and early 1980s witnessed two main approaches to the analysis of monetary policy. The firs...
This paper aims to test the prevalence of the Lucas critique by use of an applied modelling approach...
Macroeconomic events of the 1970's have led to dissatisfaction with the Keynesian theory of business...
Lucas critique suggests parameter instability in usual policy multiplier based models, where the mul...
Over the past decade, the methodology underlying economy-wide econometric models has been subjected ...
Several researchers have examined Lucas\u27s misperceptions model as well as various propositions de...
The advent of ’rational expectation hypothesis’ (REH) in 1970’s sparked intense debate on the effect...
In this study we have attempted to verify one of the implications of the Lucas (1973) hypothesis usi...
Claims that the parameters of an econometric model are invariant under changes in either policy rule...
This paper re-considers the empirical relevance of the Lucas critique using a DSGE sticky price mode...
We consider descriptive macroeconometric models with random coefficients in order to capture the pos...
In a seminal paper, Robert E. Lucas, Jr. provided the theoretical relationship between aggregate dem...
Existing evidence about the effectiveness of money growth to stimulate economic activity has been cr...
URL des Documents de travail : http://centredeconomiesorbonne.univ-paris1.fr/documents-de-travail/Do...
This paper proposes tests of policy ineffectiveness in the context of macroeconometric rational expe...
The 1970s and early 1980s witnessed two main approaches to the analysis of monetary policy. The firs...
This paper aims to test the prevalence of the Lucas critique by use of an applied modelling approach...
Macroeconomic events of the 1970's have led to dissatisfaction with the Keynesian theory of business...
Lucas critique suggests parameter instability in usual policy multiplier based models, where the mul...
Over the past decade, the methodology underlying economy-wide econometric models has been subjected ...
Several researchers have examined Lucas\u27s misperceptions model as well as various propositions de...
The advent of ’rational expectation hypothesis’ (REH) in 1970’s sparked intense debate on the effect...
In this study we have attempted to verify one of the implications of the Lucas (1973) hypothesis usi...
Claims that the parameters of an econometric model are invariant under changes in either policy rule...
This paper re-considers the empirical relevance of the Lucas critique using a DSGE sticky price mode...
We consider descriptive macroeconometric models with random coefficients in order to capture the pos...
In a seminal paper, Robert E. Lucas, Jr. provided the theoretical relationship between aggregate dem...
Existing evidence about the effectiveness of money growth to stimulate economic activity has been cr...
URL des Documents de travail : http://centredeconomiesorbonne.univ-paris1.fr/documents-de-travail/Do...
This paper proposes tests of policy ineffectiveness in the context of macroeconometric rational expe...
The 1970s and early 1980s witnessed two main approaches to the analysis of monetary policy. The firs...
This paper aims to test the prevalence of the Lucas critique by use of an applied modelling approach...
Macroeconomic events of the 1970's have led to dissatisfaction with the Keynesian theory of business...