| Description |
1 online resource |
| Physical Medium |
polychrome. |
| Description |
text file |
| Bibliography |
Includes bibliographical references and index. |
| Contents |
1. Expectations and the Neutrality of Money / Journal of Economic Theory -- 2. Asset Prices in an Exchange Economy / Econometrica -- 3. Equilibrium in a Pure Currency Economy / Economic Inquiry -- 4. Two Illustrations of the Quantity Theory of Money / American Economic Review -- 5. Discussion of Stanley Fischer, "Towards an Understanding of the Costs of Inflation: II" / Carnegie-Rochester Conference Series on Public Policy -- 6. Interest Rates and Currency Prices in a Two-Country World / Journal of Monetary Economics -- 7. Optimal Fiscal and Monetary Policy in an Economy without Capital (with Nancy L. Stokey) / Journal of Monetary Economics -- 8. Money in a Theory of Finance / Carnegie-Rochester Conference Series on Public Policy -- 9. Principles of Fiscal and Monetary Policy / Journal of Monetary Economics -- 10. Money and Interest in a Cash-in-Advance Economy (with Nancy L. Stokey) / Econometrica -- Addendum: Money and Interest in a Cash-in-Advance Economy: A Reply (with Nancy L. Stokey) / Econometrica -- 11. Money Demand in the United States: A Quantitative Review / Carnegie-Rochester Conference Series on Public Policy -- 12. The Effects of Monetary Shocks When Prices Are Set in Advance / [Unpublished manuscript] -- 13. Liquidity and Interest Rates / Journal of Economic Theory -- 14. Supply-Side Economics: An Analytical Review / Oxford Economic Papers -- 15. Review of Milton Friedman and Anna J. Schwartz, A Monetary History of the United States, 1867-1960 / Journal of Monetary Economics -- 16. Nobel Lecture: Monetary Neutrality / Journal of Political Economy -- 17. Inflation and Welfare / Econometrica -- 18. Interest Rates and Inflation (with Fernando Alvarez and Warren Weber) / American Economic Review -- 19. Macroeconomic Priorities / American Economic Review -- 20. Menu Costs and Phillips Curves (with Mikhail Golosov) / Journal of Political Economy -- 21. Occasional Pieces The Death of Keynesian Economics / Issues and Ideas Keynote Address to the 2003 HOPE Conference: My Keynesian Education / History of Political Economy Review of Robert Skidelsky, John Maynard Keynes, Volumes 1 and 2 / Journal of Modern History -- Panel Discussion: Is Science Replacing Art? / Monetary Policy: A Journey from Theory to Practice. |
| Summary |
One of the outstanding monetary theorists of the past 100 years, Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange. These 21 papers, published 1972--2007, cover core monetary theory and public finance, asset pricing, and the real effects of monetary instability. |
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Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange. Lucas's contributions are both methodological and substantive. Methodologically, he developed dynamic, stochastic, general equilibrium models to analyze economic decision-makers operating through time in a complex, probabilistic environment. Substantively, he incorporated the quantity theory of money into these models and derived its implications for money growth, inflation, and interest rates in the long run. He also showed the different effects of anticipated and unanticipated changes in the stock of money on economic fluctuations, and helped to demonstrate that there was not a long-run trade-off between unemployment and inflation (the Phillips curve) that policy-makers could exploit. The twenty-one papers collected in this volume fall primarily into three categories: core monetary theory and public finance, asset pricing, and the real effects of monetary instability. Published between 1972 and 2007, they will inspire students and researchers who want to study the work of a master of economic modeling and to advance economics as a pure and applied science. |
| Local Note |
eBooks on EBSCOhost EBSCO eBook Subscription Academic Collection - North America |
| Subject |
Lucas, Robert E., Jr.
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Lucas, Robert E., Jr. |
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Monetary policy.
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Monetary policy. |
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Money.
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Money. |
| Genre/Form |
Electronic books.
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Electronic books.
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| Added Author |
Gillman, Max.
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| Other Form: |
Print version: Lucas, Robert E. Collected papers on monetary theory. Cambridge, Mass. : Harvard University Press, 2013 9780674066878 (DLC) 2012017312 (OCoLC)792887036 |
| ISBN |
9780674067851 (electronic book) |
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0674067851 (electronic book) |
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9780674066878 |
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0674066871 |
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