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   

Blind Testing RAR Unissued stock Work Permit
BIOS Unitholder Vendor Ex parte
Bonded Warehouse Armchair general Copyright Tribunal Crawler
Factoring CNCD Merger Lifo
Percentage of Annual Revenue From Online Sales Yuan Mortgage Term Taka
Business Continuity Planning Core Competencies Bankruptcy National Insurance (NI)
Buy-out Non-deductible VAT XR Tax Year
Underwithholding KBPS Pro forma Office Of Exit
Re-Enlistment Bonus Fill or kill Ex-Works Project brief
Social justice Agricultural property Inventory Business case

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 © 2004-2019 Scopulus Limited. All rights reserved.