RT @ProfJAParker: (1/2) At a high methodological level, Lucas’ contributions were huge steps forward for causal inference in macro, for how to incorporate general equilibrium constraints, and for how to model policy rules as part of the economic system. Much 1960-70 macro was flawed on all three.

🐦🔗: https://n.respublicae.eu/lugaricano/status/1659224785077805057