Who won the 1995 Nobel Prize in economics?

The 1995 Nobel Prize in Economics was awarded to American economist Robert Lucas, Jr. (born 1937). Lucas was awarded the prize ''for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy''. Since the 1970s, his work defined modern conceptions of macroeconomics, economics understood at a large (often global scale). From understanding how corporations function at national and global scales to examining the financial positions of states in a globalizing market, Lucas' models and ideas have been extremely influential to modern economists.