A note on Lucas and the Ricardian Vice
Senior indetermination stresses the limitations of “pure” theory to derive normativeconclusions. This paper tries to show that Lucas runs into the so-called Ricardian Vice,when he goes straight from abstract theoretical models to economic policy formulations. Itis argued that such a procedure is rel...
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| Tipo de documento: | artigo |
| Estado: | Versão publicada |
| Data de publicação: | 1997 |
| País: | Brasil |
| Recursos: | EDITORA 34 |
| Repositório: | Revista de Economia Política |
| Idioma: | português |
| OAI Identifier: | oai:ojs2.centrodeeconomiapolitica.org:article/1187 |
| Acesso em linha: | https://centrodeeconomiapolitica.org.br/repojs/index.php/journal/article/view/1187 |
| Access Level: | Acceso aberto |
| Palavra-chave: | Vício Ricardiano indeterminação de Senior Lucas Economia Novo- -Clássica história do pensamento econômico Ricardian Vice indetermination of Senior New Classical history of economic thought |
| Resumo: | Senior indetermination stresses the limitations of “pure” theory to derive normativeconclusions. This paper tries to show that Lucas runs into the so-called Ricardian Vice,when he goes straight from abstract theoretical models to economic policy formulations. Itis argued that such a procedure is related to Lucas methodological positions. That is, the “asif” methodology – inherited from Friedman – would lead to disregard of external elementsin policy prescriptions. JEL Classification: B22; B31. |
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