Lucas-Kritik

Einfache Sprache

Die Lucas-Kritik beklagte, dass makroökonomische (Makroökonomik) Modelle zu seiner Zeit auf statischen Erwartungen beruhen. Er schlug rationale Erwartung vor.

Given that the structure of an econometric model consists of optimal decision rules of economic agents, and that optimal decision rules vary systematically with changes in the structure of series relevant to the decision maker, it follows that any change in policy will systematically alter the structure of econometric models.

- Lukas-Kritik