Collected Papers on Monetary Theory

Collected Papers on Monetary Theory

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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 1972a€“2007, cover core monetary theory and public finance, asset pricing, and the real effects of monetary instability.This is the theme of my Nobel Lecture, Chapter 16 here, but no resolution is offered in that essay. My first ... The new elements in my paper, relative to Phelpsa#39;s outline, were its mathematical explicitness and its use of rational expectations.

Title:Collected Papers on Monetary Theory
Author: Robert E. Lucas, Jr., Robert E Lucas, Max Gillman
Publisher:Harvard University Press - 2012-12-19

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