An article in the Economist states that, Robert Lucas . . . showed how incorporating expectations into

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An article in the Economist states that, "Robert Lucas . . . showed how incorporating expectations into macroeconomic models muddled the framework economists prior to the 'rational expectations revolution' thought they saw so clearly." What economic framework did economists change as a result of Lucas's arguments? Do all economists agree with Lucas's main conclusions about whether monetary policy is effective? Briefly explain.
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Economics

ISBN: 978-0134106243

6th edition

Authors: R. Glenn Hubbard

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