Lucas wedge
The Lucas wedge is an economic measure of how much higher the gross domestic product would have been if it grew as fast as it should have. It shows the loss from deadweight caused by poor or inefficient economic policy choices. A Lucas wedge was named after Robert E. Lucas Jr.. an American who won the 1995 Nobel Memorial Prize in Economic Sciences for his research on rational expectations. The Lucas wedge is sometimes expressed in per capita to reflect how much better a person's standard of living would be in the absence of this gap.
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Lucas wedge
The Lucas wedge is an economic measure of how much higher the gross domestic product would have been if it grew as fast as it should have. It shows the loss from deadweight caused by poor or inefficient economic policy choices. A Lucas wedge was named after Robert E. Lucas Jr.. an American who won the 1995 Nobel Memorial Prize in Economic Sciences for his research on rational expectations. The Lucas wedge is sometimes expressed in per capita to reflect how much better a person's standard of living would be in the absence of this gap.
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The Lucas wedge is an economic ...... be in the absence of this gap.
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The Lucas wedge is an economic ...... be in the absence of this gap.
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Lucas wedge
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