Studies in Business-cycle Theory

"An article in Fortune a few years ago identified Robert Lucas as ""the intellectual leader of the rational-expectations school."" An academic colleague has called Lucas ""the dominant figure in American macroeconomics."" And another refers to this g roup of 14 essays, nearly all of which were first published during the 1970s, as the most influential contribution to macroeconomics in that decade.This volume includes: Real Wages, Employment, and Inflation (with Leonard A. Rapping) Unemployment in the Great Depression: Is there a Full Explanation? (with Leonard Rapping) Expectations and the Neutrality of Money Econometric Testing of the Natural Rate Hypothesis Econometric Policy Evaluation: A Critique Some International Evidence on Output-In fl ation Tradeoffs Capacity, Overtime, and Empirical Production Function Equilibrium Search and Unemployment (with Edward C. Prescott) An Equilibrium Model of the Business Cycle Understanding Business Cycles Unemployment Policy, Rules, Discretion, a nd the Role of the Economic Advisor a review of Towards Full Employment and Price Stability, A Report to the OECD by a Group of Independent Experts, by Paul McCracken et al. and Methods and Problems in Business-Cycle Theory. "