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Robert Lucas

1937–2023

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Robert Lucas Jr. (1937–2023) was a Nobel Prize-winning American economist who revolutionized macroeconomics by introducing rational expectations, fundamentally altering how economists model the effects of policy. His work at the University of Chicago emphasized microfoundations, equilibrium theory, and the limits of government intervention, making him a central figure in the New Classical school.

Economics

WORKS

Expectations and the Neutrality of Money
Econometric Policy Evaluation: A Critique
Studies in Business-Cycle Theory
Lectures on Economic Growth
Models of Business Cycles
Recursive Methods in Economic Dynamics (with Nancy Stokey)
The Industrial Revolution: Past and Future

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