Information frictions in macroeconomics: The legacy of Robert E. Lucas, Jr.

This essay honors the contributions of Robert E. Lucas, Jr., to the most important macro problems where informational frictions are relevant today. The first step focuses on two of Lucas’ papers where information frictions play somewhat different roles, zeroing in on the key elements: money, islands...

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Bibliographic Details
Published in:Journal of monetary economics 2025-11, Vol.155, p.103842, Article 103842
Main Author: Townsend, Robert M.
Format: Article
Language:English
Subjects:
Imperfect information
Islands
Money
Citations: Items that this one cites
Online Access:Get full text
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