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Lucas claimed that the decision principles of Keynesian designs, like the fiscal multiplier, can't be considered as structural, inside the perception that they can not be invariant with respect to modifications in government plan variables, stating:
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Dynamic: The result of recent possibilities on future uncertainty tends to make the designs dynamic and assigns a particular relevance on the anticipations of brokers in forming macroeconomic outcomes.
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In a very 1976 paper,[Notice three] Robert Lucas argued that it is naive to test to predict the consequences of a improve in economic plan fully on The premise of associations noticed in historical information, In particular very aggregated historic details.