Robert Lucas's critique of econometric policy evaluation. The companion cites it in the argument for teleological saturation (C2): regularities set by agents' boundary conditions would, like economists' laws since Lucas, hold only until someone changes policy. What changes is the share of the world that the laws, applied without agents, can explain.
- Cited in
- the companion paper
- Used for
- C2
- Strand
- Studying up: reflexivity, observation & method
Cite
@article{lucas1976econometric,
title = {Econometric Policy Evaluation: A Critique},
author = {Robert E. Lucas, Jr.},
year = {1976},
journal = {Carnegie-Rochester Conference Series on Public Policy},
doi = {10.1016/S0167-2231(76)80003-6},
}