Publications of the Chair

Criticizing the Lucas Critique: Macroeconometricians’ Response to Robert Lucas

2015
Authors :
Aurélien Goutsmedt, Erich Pinzon-Fuchs, Matthieu Renault, Francesco Sergi

Abstract. The standard history of macroeconomics considers Lucas (1976)– “the Lucas Critique” –as a path-breaking innovation for the discipline. According to this view Lucas’s...  

Oil and Unemployment in a New-Keynesian Model

2015
Authors :
Verónica Acurio Vásconez

The effects of oil shocks in inflation and growth have been widely discussed in the literature, however few have focused on the impact of...  

What if Oil is Less Substitutable? A New-Keynesian Model with Oil, Price and Wage Stickiness including Capital Accumulation.

2015
Authors :
Verónica Acurio Vásconez

The recent literature on fossil energy has already stated that oil is not perfectly substitutable to other inputs, considering fossil fuel as a critical...