Robert E. Lucas Jr.
Facts
Photo from the Nobel Foundation archive.
Robert E. Lucas Jr.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1995
Born: 15 September 1937, Yakima, WA, USA
Died: 15 May 2023, Chicago, IL, USA
Affiliation at the time of the award: University of Chicago, Chicago, IL, USA
Prize motivation: “for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy”
Prize share: 1/1
Life
Robert E. Lucas Jr was born in Yakima, Washington in 1937, After he graduated from high school, he attended the University of Chicago where he got a B.A in history. In 1964 he received his Ph. D. in economics. Lucas has since then worked, taught and continued his research. First at Carnegie Mellon University and, later, at the University of Chicago. He has two sons with his first wife Rita Lucas. After his divorce he met Nancy Stokes, who he now lives with.
Work
Robert E. Lucas Jr is known as a very influential macroeconomist. He was awarded the economics prize in memory of Alfred Nobel in 1995 for the for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy. He has also made some fundamental contributions to behavioural economics.
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