An Introduction to Their Careers and Main Published Works
THE 1995 NOBEL MEMORIAL LAUREATE ROBERT LUCAS JR ROBERT LUCAS JR Robert E. Lucas Jr (b. 1937) © The Nobel Foundation Robert Lucas was born in Yakima, Washington, USA in 1937. As an undergraduate he majored in history and received his BA from the University of Chicago in 1959. Lucas began his graduate studies at the University of California at Berkeley before deciding to switch from history to economics and return to the University of Chicago, where he was awarded a PhD in 1964. In 1963 he was appointed assistant professor at Carnegie Institute of Technology (later renamed Carnegie-Mellon University) and was subsequently promoted to associate professor in 1967, and Professor of Economics in 1970. He returned to the University of Chicago in 1974, ﬁrst as visiting research professor and then as professor in 1975. In 1980 Lucas became the John Dewey Distinguished Service Professor of Economics at Chicago, a post he still holds. Among his ofﬁces and honours, Lucas served as the president of each of the Econometric Society in 1997 and the American Economic Association in 2002. In 1995 he was awarded the Nobel Memorial Prize in Economics ‘for having developed and applied the hypothesis of rational expectations, and thereby transformed macroeconomic analysis and deepened our understanding of economic policy’ (Nobel Foundation, 2004). Lucas is best known for his highly inﬂuential work in macroeconomics and is widely acknowledged as being the leading ﬁgure in 238 ROBERT LUCAS JR the development of new classical macroeconomics and the associated...
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