Business terms and jargon explained. Your business dictionary

What is Lucas critique

In 1976, Robert Lucas argued that economic models built to capture the relationship between variables on the basis of past behaviour could produce unreliable predictions if economic circumstances change. The Lucas critique criticises efforts to predict the impact of a policy in the future according to previous responses.

Crown Copyright. Material taken from HM-Treasury. Reproduced under the terms and conditions of the Click-Use Licence.

<- Go Back
Business Terms Home page

Search jargon and terms database to learn more:-

A  B  C  D  E  F  G  H  I  J  K  L  M  N  O  P  Q  R  S  T  U  V  W  X  Y  Z


Search Term   

Personal data Materiality Ogden tables Cost per click
Cash Flow Statement Fiscal Policy Economic Capital Sui juris
Blind Testing In solidum Writ of Execution NAS
Stay Stateful Inspection LIBO CMO
Rupiah In extenso Volume discount Loading List
Subscribers Dumping Sucre Suspended sentence
Tax Exemption Ex-Works Garnishment Quantize
Capital intensity N279 Civil Court form Elephant Hunt Right of Support
Grant of confirmation Advance information Lat Executrix
HMI Petition White Bonnet Critical Path

Term created / updated 2007-03-29 15:49:14

Knowledge is the key to success. That is why we have gone to great lengths to get you these business terms, and to explain them in Plain English so it is very easy to understand. Getting the right understanding and knowing your business jargon will keep you informed among your peers.

Copyright © 2004-2018 Scopulus Limited. All rights reserved.