Business Terms and Jargon Explained

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

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   

Institutional Capacity Transfer Deed Crypto-jacking
Monopoly Redundancy Prime Minister
Peer Trial bundles Benefits in kind
OATH Industrial Tax Exemption File Permissions
Clock sucker Discount allowed Macro environment
Market equilibrium Guardianship order Free Zone
Yearling Loti CRN
Patentability European Central Bank - ECB Inland Revenue
Reporting Period Production WOWGR
Competition analysis Variable costs In camera
Ingot Term Draft Malum in se
Bolivar 2FA N162 Civil Court form
Hedging Testatrix Calculated risk

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 jargon, and explain them in Plain English. Its very easy to comprehend. Learn to understanding and know your business jargon. This will keep you informed among your peers. Bookmark Your business dictionary.

Copyright © 2004-2019 Scopulus Limited. All rights reserved.