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An Agenda without a Plan: Robert E. Lucas's Trajectory throught the Public Debate

Aurélien Goutsmedt, Francesco Sergi and Danielle Guizzo ()
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Aurélien Goutsmedt: Duke University

No 7jpa9, OSF Preprints from Center for Open Science

Abstract: This article explores Robert E. Lucas’s policy agenda and his engagement with the public debate between 1968 and 1987. It investigates how he interacted with the public debate by envisioning key principles of his macroeconomic theory and methodology, and how he promoted his policy agenda. An exploration of Lucas’s personal and professional archives sheds light on his participation in policy debates after the publication of his works, illustrating how Lucas built a discreet and cautious way of engaging with the public. Lucas did not envision an action plan, nor proposed a detailed program to implement his policy agenda. The article suggests that Lucas’s originality compared to his contemporaries was his belief on the ability of macroeconomics to scientifically devise binding policy rules that could be integrated in an economic constitution.

Date: 2019-02-28
New Economics Papers: this item is included in nep-his, nep-hpe and nep-mac
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DOI: 10.31219/

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