Lucas aggregate supply function
id:
lucas-aggregate-supply-function-291-3114449
title:
Lucas aggregate supply function
text:
The Lucas aggregate supply function or Lucas "surprise" supply function, based on the Lucas imperfect information model, is a representation of aggregate supply based on the work of new classical economist Robert Lucas. The model states that economic output is a function of money or price "surprise". The model accounts for the empirically based trade off between output and prices represented by the Phillips curve, but the function breaks from the Phillips curve since only unanticipated price lev
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wiki
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encyclopedia
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original url:
https://en.wikipedia.org/wiki/Lucas_aggregate_supply_function
date created:
date modified:
2021-06-11T21:06:01Z
main entity:
{"identifier":"Q4493462","url":"https://www.wikidata.org/entity/Q4493462"}
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13
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