Question
Explain the concept of the Lucas Critique in macroeconomics and explain how it can make sense of the empirical observations about the Phillips Curve. Use
Explain the concept of the Lucas Critique in macroeconomics and explain how it can make sense of the empirical observations about the Phillips Curve. Use McLeay and Tenreyro (2020) "Optimal Inflation and the Identification of the Phillips Curve" 2 (discussed in lecture 9) to guide and support your answer.
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International Business
Authors: Alan M. Rugman, Simon Collinson
6th edition
273760971, 978-0273760979
