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biography
| name: |
Lucas, Robert E, Jr
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| sex:
| male
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| lived:
| (1937– )
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| biography:
| Economist, born in Yakima, Washington, USA. He was a professor of economics at Carnegie Mellon (1970–4) before joining the faculty at the University of Chicago (1974). He was a supporter of the rational expectations theory, which concludes that because expectations of economic agents are ‘rational’, monetary and fiscal policy only affect output and unemployment for a short time. He received the Nobel Prize for Economics in 1995. |
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