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The Behavioral Economics of Inflation Expectations

The Behavioral Economics of Inflation Expectations : Macroeconomics Meets Psychology. インフレ期待の行動経済学 -マクロ経済学が心理学と出会う-

・ISBN 978-1-108-48285-1 hard GB£ 100.00

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・ISBN 978-1-108-44706-5 paper GB£ 34.00

¥10,771.- (税込) (※)価格はご注文時の参考価格となります。
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電子版あり 大学・学術機関向け電子ブック(eBook)ISBN 978-1-316-98705-6

著者・編者Rötheli, Tobias,
出版社(Cambridge U. Pr., UK)
出版年月2020
言語ENG
ニュース番号<657-P755 658-293>

解説

As one of the first texts to take a behavioral approach to macroeconomic expectations, this book introduces a new way of doing economics. Roetheli uses cognitive psychology in a bottom-up method of modeling macroeconomic expectations. His research is based on laboratory experiments and historical data, which he extends to real-world situations. Pattern extrapolation is shown to be the key to understanding expectations of inflation and income. The quantitative model of expectations is used to analyze the course of inflation and nominal interest rates in a range of countries and historical periods. The model of expected income is applied to the analysis of business cycle phenomena such as the great recession in the United States. Data and spreadsheets are provided for readers to do their own computations of macroeconomic expectations. This book offers new perspectives in many areas of macro and financial economics.