Dear Research Colleagues -
I am sorry to share the news that Robert E. Lucas, Jr., one of the
most influential macroeconomists of his generation and a research
associate in the NBER Economic Fluctuations and Growth program for more
than four decades, passed away yesterday. He was the John Dewey
Distinguished Service Professor of Economics, Emeritus, at the
University of Chicago. He taught at the Carnegie Institute of
Technology (now Carnegie Mellon University) for just over a decade
before joining the Chicago faculty in 1975.
Lucas' research ranged widely within macroeconomics. He pioneered
the implications of rational expectations with particular attention to
how monetary policy affects inflation, developed a dynamic theory of
labor supply, and contributed important insights on the theory of fiscal
policy, investment and asset pricing, and the drivers of long-run
economic growth.
Lucas received both his undergraduate degree and his Ph.D. from the
University of Chicago, which has posted a memorial statement:
https://economics.uchicago.edu/blog/memoriam-robert-e-lucas-jr-1937-2023
In 1995, he was awarded the Nobel Prize in Economic Sciences. Lucas was
an active contributor to the NBER and to many other research
communities, and he will be deeply missed.
Jim Poterba
Received on Tue May 16 2023 - 10:23:32 EDT
