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Robert Lucas is one of the outstanding monetary theorists of the past hundred years. Along with Knut Wicksell, Irving Fisher, John Maynard Keynes, James Tobin, and Milton Friedman (his teacher), Lucas revolutionized our understanding of how money interacts with the real economy of production, consumption, and exchange.

Lucas's contributions are both methodological and substantive. Methodologically, he developed dynamic, stochastic, general equilibrium models to analyze economic decision-makers operating through time in a complex, probabilistic environment. Substantively, he...

This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied.

After presenting an overview of the recursive approach, the authors develop economic applications for deterministic dynamic programming and the stability theory of first-order difference equations. They then treat stochastic dynamic programming and the convergence theory of discrete-time Markov processes, illustrating each with additional...

Trainers have to be creative if they want their participants to feel excited, challenged, and involved. "The Creative Training Idea Book" is packed with instructions for using activities, games, puzzles, toys, and props to increase energy and active participation in the classroom, and reveals how to think creatively about training in any situation.

Based on the author's nearly three decades of training experience, this invaluable resource gives trainers the tools to adopt a fun, energetic approach that will make for a stimulating learning environment. Readers will learn new methods...

In this book the Nobel Prize-winning economist Robert Lucas collects his writings on economic growth, from his seminal On the Mechanics of Economic Development to his previously unpublished 1997 Kuznets Lectures.

The chapters progress from a general theory of how growth could be sustained and why growth rates might differ in different countries, to a model of exceptional growth in certain countries in the twentieth century, to an account of the take-off of growth in the Industrial Revolution, and finally to a prediction about patterns of growth in this new century. The...

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 group 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...