scholarly journals Structural Inference and the Lucas Critique

2002 ◽  
pp. 183 ◽  
Author(s):  
Collard ◽  
Fève ◽  
Langot
Keyword(s):  
Structural Inference ◽  
Lucas Critique

scholarly journals On the empirical relevance of the Lucas critique: the case of euro area money demand

Empirica ◽  
2015 ◽  
Vol 43 (1) ◽  
pp. 61-82 ◽  
Author(s):  
Christian Dreger ◽  
Jürgen Wolters
Keyword(s):  
Euro Area ◽  
Money Demand ◽  
Lucas Critique

scholarly journals Human visual motion perception shows hallmarks of Bayesian structural inference

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Sichao Yang ◽  
Johannes Bill ◽  
Jan Drugowitsch ◽  
Samuel J. Gershman
Keyword(s):  
Motion Perception ◽  
Visual Motion ◽  
Probabilistic Reasoning ◽  
Choice Model ◽  
Human Motion ◽  
Object Motion ◽  
Ideal Observer ◽  
Structure Identification ◽  
Structural Inference ◽  
Visual Motion Perception

AbstractMotion relations in visual scenes carry an abundance of behaviorally relevant information, but little is known about how humans identify the structure underlying a scene’s motion in the first place. We studied the computations governing human motion structure identification in two psychophysics experiments and found that perception of motion relations showed hallmarks of Bayesian structural inference. At the heart of our research lies a tractable task design that enabled us to reveal the signatures of probabilistic reasoning about latent structure. We found that a choice model based on the task’s Bayesian ideal observer accurately matched many facets of human structural inference, including task performance, perceptual error patterns, single-trial responses, participant-specific differences, and subjective decision confidence—especially, when motion scenes were ambiguous and when object motion was hierarchically nested within other moving reference frames. Our work can guide future neuroscience experiments to reveal the neural mechanisms underlying higher-level visual motion perception.

The Quantitative Significance of the Lucas Critique

1991 ◽  
Vol 9 (4) ◽  
pp. 361-387 ◽  
Author(s):  
Preston J. Miller ◽  
William T. Roberds
Keyword(s):  
Lucas Critique

scholarly journals miniMDS: 3D structural inference from high-resolution Hi-C data

2017 ◽  
Vol 33 (14) ◽  
pp. i261-i266 ◽  
Author(s):  
Lila Rieber ◽  
Shaun Mahony
Keyword(s):  
High Resolution ◽  
Structural Inference

The Rational Expectations Hypothesis and the New Classicals

2020 ◽  
pp. 57-100
Author(s):  
Christopher Tsoukis
Keyword(s):  
Market Efficiency ◽  
Bounded Rationality ◽  
Rational Expectations ◽  
Island Model ◽  
Supply Function ◽  
Stabilization Policy ◽  
Wage Setting ◽  
Expectations Hypothesis ◽  
Lucas Critique ◽  
Forward Looking

This chapter analyses the Rational Expectations Hypothesis (REH), a pillar of forward-looking macroeconomics that emphasizes expectations. It also develops its implications in terms of ‘market efficiency’ and related concepts. It then reviews New Classical Macroeconomics: its main tenets, the ‘Lucas supply function’ that is crucial for much subsequent theory, and the ‘Lucas island model’ that underpins it. The centrepiece ‘Policy Ineffectiveness Proposition’ (PIP) is developed both intuitively and more formally. Subsequently, the chapter reviews one major line of criticism of PIP, the fact that markets may not clear, based in particular on staggered wage setting. Broader criticisms of the REH, including ‘bounded rationality’, are also reviewed. The chapter concludes with yet another landmark contribution of Robert Lucas, namely the ‘Lucas critique’ of activist stabilization policy.

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