Nobel lecture: Monetary neutrality

Journal of Political Economy

Volumn 104, Issue 4, 1996, Pages 661-682

  Lucas Jr , Robert E ^a  

^a UNIVERSITY OF CHICAGO   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0000483605     PISSN: 00223808     EISSN: None     Source Type: Journal    
DOI: 10.1086/262037     Document Type: Review

References (65)

1. Alberro, José. "The Lucas Hypothesis on the Phillips Curve: Further International Evidence." J. Monetary Econ. 7 (March 1981): 239-50.
2. Arrow, Kenneth J. "An Extension of the Basic Theorems of Classical Welfare Economics." In Proceedings of the Second Berkeley Symposium on Mathematical Statistics and Probability, edited by Jerzy Neyman. Berkeley: Univ. California Press, 1951.
3. Barro, Robert J. "Unanticipated Money Growth and Unemployment in the United States." A.E.R. 67 (March 1977): 101-15.
4. Baumol, William J. "The Transactions Demand for Cash: An Inventory Theoretic Approach." Q.J.E. 66 (November 1952): 545-56.
5. Becker, Gary S. "Investment in Human Capital: A Theoretical Analysis." J.P.E. 70, no. 5, pt. 2 (October 1962): 9-49.
6. Bellman, Richard E. Dynamic Programming. Princeton, N.J.: Princeton Univ. Press, 1957.
7. Ben-Porath, Yoram. "The Production of Human Capital and the Life Cycle of Earnings."J.P.E. 75, no. 4, pt. 1 (August 1967): 352-65.
8. Brock, William A., and Mirman, Leonard J. "Optimal Economic Growth and Uncertainty: The Discounted Case." J. Econ. Theory 4 (June 1972): 479-513.
9. Brunner, Karl, and Meltzer, Allan H. "Predicting Velocity: Implications for Theory and Policy." J. Finance 18 (May 1963): 319-54.
10. Cass, David. "Optimum Growth in an Aggregative Model of Capital Accumulation." Rev. Econ. Studies 32 (July 1965): 233-40.
11. Cass, David, and Yaari, Menahem E. "A Re-examination of the Pure Consumption Loans Model" J.P.E. 74 (August 1966): 353-67.
12. Debreu, Gerard. Theory of Value: An Axiomatic Analysis of Economic Equilibrium. New Haven, Conn.: Yale Univ. Press, 1959.
13. Eden, Benjamin. "The Adjustment of Prices to Monetary Shocks When Trade Is Uncertain and Sequential." J.P.E. 102 (June 1994): 493-509.
14. Eisner, Robert, and Strotz, Robert H. "Determinants of Business Investment." In Impacts of Monetary Policy, by the Commission on Money and Credit. Englewood Cliffs, N.J.: Prentice-Hall, 1963.
15. Fama, Eugene F. "The Behavior of Stock-Market Prices." J. Bus. 38 (January 1965): 34-105.
16. Fischer, Stanley. "Long-Term Contracts, Rational Expectations, and the Optimal Money Supply Rule." J.P.E. 85 (February 1977): 191-205.
17. Friedman, Milton. A Theory of the Consumption Function. Princeton, N.J.: Princeton Univ. Press (for NBER), 1957.
18. _. "The Role of Monetary Policy." A.E.R. 58 (March 1968): 1-17.
19. Friedman, Milton, and Schwartz, Anna J. A Monetary History of the United States, 1867-1960. Princeton, N.J.: Princeton Univ. Press (for NBER), 1963.
20. Granger, Clive W. J. "Investigating Causal Relations by Econometric Models and Cross-Spectral Methods." Econometrica 37 (July 1969): 424-38.
21. Hall, Robert E. "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and Evidence." J.P.E. 86 (December 1978): 971-88.
22. Hansen, Lars Peter. "Large Sample Properties of Generalized Method of Moments Estimators." Econometrica 50 (July 1982): 1029-54.
23. Hayek, Friedrich A. von. Monetary Theory and the Trade Cycle. London: Jonathan Cape, 1933.
24. Hicks, John R. Value and Capital. Oxford: Clarendon, 1939.
25. Hume, David. Writings on Economics, edited by Eugene Rotwein. Madison: Univ. Wisconsin Press, 1970.
26. Jorgenson, Dale W. "Capital Theory and Investment Behavior." A.E.R. Papers and Proc. 53 (May 1963): 247-59.
27. Keynes, John Maynard. A Treatise on Money. London: Macmillan, 1930.
28. _. The General Theory of Employment, Interest, and Money. London: Macmillan, 1936.
29. King, Robert G. "Monetary Information and Monetary Neutrality." J. Monetary Econ. 7 (March 1981): 195-206.
30. Kormendi, Roger C., and Meguire, Philip G. "Cross-Regime Evidence of Macroeconomic Rationality." J.P.E. 92 (October 1984): 875-908.
31. Kydland, Finn E., and Prescott, Edward C. "Time to Build and Aggregate Fluctuations." Econometrica 50 (November 1982): 1345-70.
32. Leiderman, Leonardo. "Expectations and Output-Inflation Tradeoffs in a Fixed-Exchange-Rate Economy." J.P.E. 87 (December 1979): 1285-1306.
33. Lucas, Robert E., Jr. "Econometric Testing of the Natural Rate Hypothesis." In The Econometrics of Price Determination: Conference, October 30-31, 1970, Washington, D.C., edited by Otto Eckstein. Washington: Board of Governors, Fed. Reserve System, 1972. (a)
34. _. "Expectations and the Neutrality of Money." J. Econ. Theory 4 (April 1972): 103-24. (b)
35. _. "Some International Evidence on Output-Inflation Tradeoffs." A.E.R. 63 (June 1973): 326-34.
36. _. "Econometric Policy Evaluation: A Critique." Carnegie-Rochester Conf. Ser. Public Policy, no. 1 (1976), pp. 19-46.
37. Lucas, Robert E., Jr., and Prescott, Edward C. "Investment under Uncertainty." Econometrica 39 (September 1971): 659-81.
38. Lucas, Robert E., Jr., and Rapping, Leonard A. "Real Wages, Employment, and Inflation." J.P.E. 77 (September/October 1969): 721-54.
39. Lucas, Robert E., Jr., and Woodford, Michael. "Real Effects of Monetary Shocks in an Economy with Sequential Purchases." Working paper. Chicago: Univ. Chicago, 1994.
40. McCandless, George T., Jr., and Weber, Warren E. "Some Monetary Facts." Fed. Reserve Bank Minneapolis Q. Rev. 19 (Summer 1995): 2-11.
41. McKenzie, Lionel W. "On Equilibrium in Graham's Model of World Trade and Other Competitive Systems." Econometrica 22 (April 1954): 147-61.
42. Meltzer, Allan H. "The Demand for Money: The Evidence from the Time Series." J.P.E. 71 (June 1963): 219-46.
43. Modigliani, Franco, and Brumberg, Richard. "Utility Analysis and the Consumption Function: An Interpretation of Cross-Section Data." In Post-Keynesian Economics, edited by Kenneth K. Kurihara. New Brunswick, N.J.: Rutgers Univ. Press, 1954.
44. Muth, John F. "Rational Expectations and the Theory of Price Movements." Econometrica 29 (July 1961): 315-35.
45. Patinkin, Don. Money, Interest, and Prices: An Integration of Monetary and Value Theory. 2d ed. New York: Harper and Row, 1965.
46. Phelps, Edmund S. "Money-Wage Dynamics and Labor-Market Equilibrium." J.P.E. 76, no. 4, pt. 2 (July/August 1968): 678-711.
47. Phelps, Edmund S., et al. Microeconomic Foundations of Employment and Inflation Theory. New York: Norton, 1970.
48. Phelps, Edmund S., and Taylor, John B. "Stabilizing Powers of Monetary Policy under Rational Expectations." J.P.E. 85 (February 1977): 163-90.
49. Phillips, A. W. "The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861-1957." Economica 25 (November 1958): 283-99.
50. Samuelson, Paul A. "An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money." J.P.E. 66 (December 1958): 467-82.
51. Sargent, Thomas J. "A Note on the 'Accelerationist' Controversy." J. Money, Credit and Banking 3 (August 1971): 721-25.
52. _. "A Classical Macroeconometric Model for the United States." J.P.E. 84 (April 1976): 207-37.
53. _. "The Ends of Four Big Inflations." In Rational Expectations and Inflation. New York: Harper and Row, 1986.
54. Shubik, Martin. "The Capital Stock Modified Competitive Equilibrium." In Models of Monetary Economies, edited by John H. Kareken and Neil Wallace. Minneapolis: Fed. Reserve Bank, 1980.
55. Sims, Christopher A. "Money, Income, and Causality." A.E.R. 62 (September 1972): 540-52.
56. Stockman, Alan C. Introduction to Economics. Fort Worth, Texas: Dryden, 1996.
57. Svensson, Lars E. O. "Sticky Goods Prices, Flexible Asset Prices, Monopolistic Competition, and Monetary Policy." Rev. Econ. Studies 53 (July 1986): 385-405.
58. Taylor, John B. "Estimation and Control of a Macroeconomic Model with Rational Expectations." Econometrica 47 (September 1979): 1267-86.
59. Tinbergen, Jan. Business Cycles in the United States of America, 1919-1932. Geneva: League of Nations, 1939.
60. Tobin, James. "The Interest-Elasticity of Transactions Demand for Cash." Rev. Econ. and Statis. 38 (August 1956): 241-47.
61. Uzawa, Hirofumi. "Optimal Growth in a Two-Sector Model of Capital Accumulation." Rev. Econ. Studies 31 (January 1964): 1-24.
62. Wallace, Neil. "The Overlapping Generations Model of Fiat Money." In Models of Monetary Economies, edited by John H. Kareken and Neil Wallace. Minneapolis: Fed. Reserve Bank, 1980.
63. _. "Lucas's Signal-Extraction Model: A Finite State Exposition with Aggregate Real Shocks." J. Monetary Econ. 30 (December 1992): 433-47.
64. Wicksell, Knut. Interest and Prices: A Study of the Causes Regulating the Value of Money. 1898. Translated by R. F. Kahn. London: Macmillan (for Royal Econ. Soc.), 1936.
65. Williamson, Stephen D. "Optimal Monetary Policy in an Economy with Sequential Service." Working paper. Iowa City: Univ. Iowa, 1995.