Testing the Lucas Critique: A Review.
Claims that the parameters of an econometric model are invariant under changes in either policy rules or expectations processes entail super exogeneity and encompassing implications. Super exogeneity is always potentially refutable, and when both implications are involved, the Lucas critique is also...
| Main Authors: | , |
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| Format: | Journal article |
| Language: | English |
| Published: |
Taylor and Francis
1992
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