Skip to main content
Log in

An Austrian version of the lucas critique

  • Articles
  • Published:
The Quarterly Journal of Austrian Economics

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

References

  • Backhouse, Roger E. 2000. “Austrian Economics and the Mainstream: View from the Boundary.” The Quarterly Journal of Austrian Economics 3 (2): 31–43.

    Google Scholar 

  • Boivin, Jean, and Marc Giannoni. 2002. “Assessing Changes in the Monetary Transmission Mechanism: A VAR Approach.” Federal Reserve Bank of New York Economic Policy Review 8 (1): 97–111.

    Google Scholar 

  • Bullard, James B. 1991. “Learning, Rational Expectations and Policy: A Summary of Recent Research.” Federal Reserve Bank of St. Louis Review 73 (1): 50–60.

    Google Scholar 

  • Christ, Carl F. 1993. “Assessing Applied Econometric Results.” Federal Reserve Bank of St. Louis Review 75 (2): 71–94.

    Google Scholar 

  • Eichenbaum, Martin. 1996. “Some Comments on the Role of Econometrics in Economic Theory.” Federal Reserve Bank of Chicago Economic Perspectives 1: 22–31.

    Google Scholar 

  • Garrison, Roger W. 1986. “From Lachmann to Lucas: On Institutions, Expectations, and Equilibrating Tendencies.” In Subjectivism, Intelligibility and Economic Understanding, Israel M. Kirzner, ed. Houndmills, Basingstoke and London: Macmillan. Pp. 87–101.

    Google Scholar 

  • Glasner, David. 1989. Free Banking and Monetary Reform. Cambridge: Cambridge University Press.

    Google Scholar 

  • Golob, John E. 1994. “Does Inflation Uncertainty Increase With Inflation?” Federal Reserve Bank of Kansas City Economic Review 3: 27–38.

    Google Scholar 

  • Granger, Clive W.J. 2003. “Some Aspects of Causal Relationships.” Journal of Econometrics 112: 69–71.

    Article  Google Scholar 

  • —————. 1999. Empirical Modeling in Economics: Specification and Evaluation. Cambridge: Cambridge University Press.

    Google Scholar 

  • —————. 1991. “Developments in the Study of Cointegrated Variables.” In Long-Run Economic Relationships: Readings in Cointegration. R.F. Engle and C.W.J. Granger, eds. Oxford: Oxford University Press. Pp. 65–80.

    Google Scholar 

  • Herbener, Jeffrey M. 1996. “Calculation and the Question of Arithmetic.” Review of Austrian Economics 9 (1): 151–62.

    Article  Google Scholar 

  • Hoppe, Hans-Hermann. 1997. “On Certainty and Uncertainty, Or: How Rational Can Our Expectations Be?” Review of Austrian Economics 10 (1): 49–78.

    Article  Google Scholar 

  • Kirzner, Israel M. 1996. “Reflections on the Misesian Legacy in Economics.” Review of Austrian Economics 9 (2): 143–54.

    Article  Google Scholar 

  • Krueger, Thomas M., and Mohammad H. Rahbar. 1995. “Explanation of Industry Returns Using The Variable Beta Model and Lagged Variable Beta Model.” Journal of Financial and Strategic Decisions 8: 35–45.

    Google Scholar 

  • Lachmann, Ludwig M. 1976. “Austrian Economics in the Age of the Neo-Ricardian Counterrevolution.” In The Foundations of Modern Austrian Economics. Edwin G. Dolan, ed. Kansas City: Sheed and Ward. Pp. 215–23.

    Google Scholar 

  • Leamer, Edward E. 1994. “Testing Trade Theory.” In Surveys in International Trade. D. Greenaway and L.A. Winters, eds. Oxford and Cambridge: Blackwell Publishers. Pp. 66–106.

    Google Scholar 

  • —————. 1985. “Vector Autoregressions for Causal Inference?” Carnegie-Rochester Conference Series on Public Policy 22: 255–304.

    Article  Google Scholar 

  • Lucas, Robert E. 1976. “Economic Policy Evaluation: A Critique.” Carnegie-Rochester Conference Series on Public Policy 1: 19–46.

    Article  Google Scholar 

  • McCallum, Bennett T. 1982. “Macroeconomics after a Decade of Rational Expectations: Some Critical Issues.” In Federal Reserve Bank of Richmond Economic Review 68 (6): 3–12.

    Google Scholar 

  • McClure, J. Hal, and Thomas D. Willett. 1988. “The Inflation Tax.” In Political Business Cycles. T.D. Willett, ed. Durham and London: Duke University Press. Pp. 177–85.

    Google Scholar 

  • Mises, Ludwig von. 1996. Human Action. 4th ed. Irvington-on-Hudson, N.Y.: Foundation for Economic Education.

    Google Scholar 

  • —————. 1977. “Comments about the Mathematical Treatment of Economic Problems.” Journal of Libertarian Studies 1 (2): 97–100.

    Google Scholar 

  • Pagan, Adrian. 2002. “Learning About Models and Their Fit to Data.” International Economic Journal 16 (2): pp. 1–18.

    Article  Google Scholar 

  • Phillips, Alban W. 1958. “The Relation between Unemployment and the Rate of Change of Money Wage Rates in the United Kingdom, 1861–1957.” Economica 25: 283–99.

    Google Scholar 

  • Rothbard, Murray N. 1976. “Praxeology: The Methodology of Austrian Economics.” In The Foundations of Modern Austrian Economics. Edwin G. Dolan, ed. Kansas City: Sheed and Ward. Pp. 19–39.

    Google Scholar 

  • Sargent, Thomas J. “Estimating Vector Autoregressions Using Methods Not Based on Explicit Economic Theories.” In Federal Reserve Bank of Minneapolis Quarterly Review 3: 8–15.

  • Selgin, George A. 1988. “Praxeology and Understanding: An Analysis of the Controversy in Austrian Economics.” Review of Austrian Economics 2 (1): 19–58.

    Article  Google Scholar 

  • Vedder, Richard. 1997. “Statistical Malfesance and Interpreting Economic Phenomena.” Review of Austrian Economics 10 (2): 77–89.

    Article  Google Scholar 

  • Yeager, Leland B. 1987. “Why Subjectivism?” Review of Austrian Economics 1 (1): 5–31.

    Article  Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Additional information

The views expressed in this paper are his own and do not necessarily represent those of Norddeutsche Landesbank.

Rights and permissions

Reprints and permissions

About this article

Cite this article

Basse, T. An Austrian version of the lucas critique. Quart J Austrian Econ 9, 15–26 (2006). https://doi.org/10.1007/s12113-006-1001-5

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1007/s12113-006-1001-5

Keywords

Navigation