Robert Emerson Lucas, Jr.
| Robert Emerson Lucas Jr. | |
|---|---|
| Born |
September 15, 1937 Yakima, Washington, U.S. |
| Nationality | American |
| Institution |
Carnegie Mellon University University of Chicago |
| Field | Macroeconomics |
| School or tradition |
New classical macroeconomics |
| Alma mater | University of California, Berkeley |
| Doctoral advisor |
Arnold Harberger H. Gregg Lewis |
| Doctoral students |
Marcel Boyer Costas Azariadis Jean-Pierre Danthine Boyan Jovanovic Paul Romer |
| Influences |
Milton Friedman John Muth Paul Anthony Samuelson |
| Contributions |
Rational expectations Lucas critique Behavioral Economics |
| Awards | Nobel Memorial Prize in Economic Sciences (1995) |
| Information at IDEAS / RePEc | |
Robert Emerson Lucas Jr. (born September 15, 1937) is an American economist at the University of Chicago. Widely regarded as the central figure in the development of the new classical approach to macroeconomics, he received the Nobel Prize in Economics in 1995. He has been characterized by N. Gregory Mankiw as "the most influential macroeconomist of the last quarter of the 20th century."
Lucas was born in 1937 in Yakima, Washington, and was the eldest child of Robert Emerson Lucas and Jane Templeton Lucas.
Lucas received his B.A. in History in 1959 from the University of Chicago. While he was attending University of California, Berkeley as a graduate student in 1959, Lucas left Berkeley due to financial reasons and returned to Chicago in 1960, earning a Ph.D. in Economics in 1964. His dissertation “Substitution between Labor and Capital in U.S. Manufacturing: 1929–1958” was written under the supervision of Arnold Harberger and H. Gregg Lewis. Lucas studied economics for his Ph.D. on "quasi-Marxist" grounds. He believed that economics was the true driver of history, and so he planned to immerse himself fully in economics and then return to the history department.
Following his graduation, Lucas taught at the Graduate School of Industrial Administration (now Tepper School of Business) at Carnegie Mellon University until 1975, when he returned to the University of Chicago.
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