Additionally, they agree with Serre and P��bo that membership of multiple clusters can be interpreted as evidence for clinality ( isolation by distance ), though they also comment that this may also be due to admixture between neighbouring groups ( small island model ).
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The purpose of the first Lucasian island model ( 1972 ) was to establish a framework to support the understanding of the nature of the relationship between inflation and real economic performance by assuming that this relation offers no trade-off exploitable by economic policy.
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Karl Shell, its editor, said Tuesday that Lucas'contribution was built on " three giant predecessors : the notion of rational expectations itself, which had been introduced by John Muth; the overlapping generations model of Paul Samuelson; and an early use of the idea of asymetric information from the island model of Edmund Phelps ."
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