Nancy L Stokey
Biographic Data
| ID | 5867308 |
|---|---|
| NAME | Nancy L Stokey |
| GIVEN NAMES | Nancy L |
| FAMILY NAME | Stokey |
| SIGNATURE | STOKEY N L |
| AFFILIATIONS | University of Chicago |
| VERIFIED | No |
| TOTAL WORKS | 8 |
| TOTAL CITATIONS | 73 |
| WORKS AS AUTHOR | 8 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 1982 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 3 |
Lucas on Economic Development
Aggregative Fiscal Policy
Are There Limits to Growth?
A simple theoretical model of pollution is developed that generates an inverted U-shape relationship between per capita income and environmental quality. This model is then used to study long-run growth. The same inverted U-shape is shown to appear in time series and the prospects for sustained growth are shown to hinge on whether increasingly strict environmental regulation is compatible with a constant rate of return on capital. Implementation …
Growth Effects of Flat-Rate Taxes
Recent estimates of the potential growth effects of tax reform vary wildly, ranging from zero to eight percentage points. Using an endogenous growth model, the authors assess which model features and parameter values are important for determining the quantitative impact of tax reform. The quantitative estimates in several recent papers are compared with each other and with some of the evidence from U.S. experience. The authors find that Robert Lu…
Learning by Doing and the Introduction of New Goods
A dynamic general equilibrium model is developed in which goods are valued according to the characteristics they contain; the set of goods produced in any period is endogenously determined; and learning by doing is the force behind sustained growth. It is shown that the set of produced goods changes in a systematic way over time, with goods of higher quality entering each period and those of lower quality dropping out. The model is then used to s…
Optimal fiscal and monetary policy in an economy without capital
A Comparison of Tournaments and Contracts
Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agent's output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The principal observes only the output levels of the agents. It is shown that, in the absence of a common shock, using optimal independent contracts dominates u…
Information, trade and common knowledge
A Comparison of Tournaments and Contracts
Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agent's output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The principal observes only the output levels of the agents. It is shown that, in the absence of a common shock, using optimal independent contracts dominates u…
Learning by Doing and the Introduction of New Goods
A dynamic general equilibrium model is developed in which goods are valued according to the characteristics they contain; the set of goods produced in any period is endogenously determined; and learning by doing is the force behind sustained growth. It is shown that the set of produced goods changes in a systematic way over time, with goods of higher quality entering each period and those of lower quality dropping out. The model is then used to s…
Growth Effects of Flat-Rate Taxes
Recent estimates of the potential growth effects of tax reform vary wildly, ranging from zero to eight percentage points. Using an endogenous growth model, the authors assess which model features and parameter values are important for determining the quantitative impact of tax reform. The quantitative estimates in several recent papers are compared with each other and with some of the evidence from U.S. experience. The authors find that Robert Lu…
Information, trade and common knowledge
Optimal fiscal and monetary policy in an economy without capital
A Comparison of Tournaments and Contracts
Tournaments, reward structures based on rank order, are compared with individual contracts in a model with one risk-neutral principal and many risk-averse agents. Each agent's output is a stochastic function of his effort level plus an additive shock term that is common to all the agents. The principal observes only the output levels of the agents. It is shown that, in the absence of a common shock, using optimal independent contracts dominates u…
Learning by Doing and the Introduction of New Goods
A dynamic general equilibrium model is developed in which goods are valued according to the characteristics they contain; the set of goods produced in any period is endogenously determined; and learning by doing is the force behind sustained growth. It is shown that the set of produced goods changes in a systematic way over time, with goods of higher quality entering each period and those of lower quality dropping out. The model is then used to s…
Growth Effects of Flat-Rate Taxes
Recent estimates of the potential growth effects of tax reform vary wildly, ranging from zero to eight percentage points. Using an endogenous growth model, the authors assess which model features and parameter values are important for determining the quantitative impact of tax reform. The quantitative estimates in several recent papers are compared with each other and with some of the evidence from U.S. experience. The authors find that Robert Lu…
Are There Limits to Growth?
A simple theoretical model of pollution is developed that generates an inverted U-shape relationship between per capita income and environmental quality. This model is then used to study long-run growth. The same inverted U-shape is shown to appear in time series and the prospects for sustained growth are shown to hinge on whether increasingly strict environmental regulation is compatible with a constant rate of return on capital. Implementation …
Aggregative Fiscal Policy
Lucas on Economic Development
Economics (8 works) · Computer Science (4 works) · Economic theories and models (4 works) · Fiscal Policy and Economic Growth (4 works) · Mathematical economics (4 works) · Microeconomics (4 works) · Econometrics (3 works) · Economic Theory and Policy (3 works) · Auction Theory and Applications (2 works) · Capital (architecture) (2 works)