Search results for keyword: lucas
Machine Tool NC Software Architecture (Part 1)
Introduction
In the past decade, the machine tool industry has been undergoing rapid changes and improvements in terms of its application and automation. From single-spindle to multi-spindle machine tools, advanced automation technologies and computer numerical control (CNC) techniques have been ......
1035 
Sophia
Edward Prescott
Edward Prescott
The name Edward Prescott may not be familiar to most people, but in economics, it is known as one of the most influential figures in the field. Edward Prescott is an American economist and a 2004 Nobel Prize winner in economics. He is also a Professor at Arizona State University ......
Oscar Lange
Oscar Lang is an accomplished musician, producer and songwriter from Brooklyn, New York. Born in 1992, Lang has made a name for himself in the music industry, writing and producing for some of the top artists in the world. He has released two solo albums, “I Don’t Believe in Anything” and “Foo......
robert lucas
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Robert lucas
Robert lucas (born September 15, 1937) is an American economist at the University of Chicago. He received the Nobel Prize in Economic Sciences in 1995 for developing the idea of rational expectations, which had an immense influence over the direction of modern macroeconomic theory.......
Michael Parkin
Michael Patrick Pacquin, or Mike as most of his friends called him, was an amazing person. The type of person who just seemed to naturally bring a smile to everyone’s face. The type of person who found the good in all situations, no matter how bad things may have seemed.
A born storyteller, Mi......
new growth theory
Introduction
The theory of exponential growth is an economic concept which states that an economy can experience a period of sustainable growth if the rate of capital accumulation (i.e. investment) outpaces the rate of population growth. This concept has been popularized by economists in the las......
Rational Expectations School
Rational Expectations School
The Rational Expectations School is a school of thought that influences the way economics are studied today. The school of thought is based on the idea of individual actions being taken in order to maximise their own welfare and based on an accurate knowledge and under......
rational expectations
What is Rational Expectation?
Rational expectation is an economic term which dictates how people, groups, organizations and states make economic decisions based on their reasonable assumptions about the future. According to the theory, people are expected to make decisions based on an unbiased ex......
neoclassical synthesis
Neo-Classical Synthesis School
Neoclassical synthesis school refers to a new neoclassical synthesis based on the synthesis of classical economics and Keynesian theory after World War II. After World War II, the combination of Keynesian imperfect competition theory and neoclassical perfect competi......
lucasian Equilibrium Business Cycle Theory
The lucas Paradox Economic Cycle Theory
Introduction
The lucas Paradox Economic Cycle Theory is an economic paradigm proposed by Robert lucas Jr in 1967. lucas was an American economist who was best known for his contribution to the rational expectations theory which states that economic agents ......
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