Lectures on Behavioral Macroeconomics
oct. del 2012 · Princeton University Press
3,0star
1 ressenyareport
Llibre electrònic
152
Pàgines
family_home
Apte
info
reportNo es verifiquen les puntuacions ni les ressenyes Més informació
Sobre aquest llibre
In mainstream economics, and particularly in New Keynesian macroeconomics, the booms and busts that characterize capitalism arise because of large external shocks. The combination of these shocks and the slow adjustments of wages and prices by rational agents leads to cyclical movements. In this book, Paul De Grauwe argues for a different macroeconomics model--one that works with an internal explanation of the business cycle and factors in agents' limited cognitive abilities. By creating a behavioral model that is not dependent on the prevailing concept of rationality, De Grauwe is better able to explain the fluctuations of economic activity that are an endemic feature of market economies. This new approach illustrates a richer macroeconomic dynamic that provides for a better understanding of fluctuations in output and inflation.
De Grauwe shows that the behavioral model is driven by self-fulfilling waves of optimism and pessimism, or animal spirits. Booms and busts in economic activity are therefore natural outcomes of a behavioral model. The author uses this to analyze central issues in monetary policies, such as output stabilization, before extending his investigation into asset markets and more sophisticated forecasting rules. He also examines how well the theoretical predictions of the behavioral model perform when confronted with empirical data.
De Grauwe shows that the behavioral model is driven by self-fulfilling waves of optimism and pessimism, or animal spirits. Booms and busts in economic activity are therefore natural outcomes of a behavioral model. The author uses this to analyze central issues in monetary policies, such as output stabilization, before extending his investigation into asset markets and more sophisticated forecasting rules. He also examines how well the theoretical predictions of the behavioral model perform when confronted with empirical data.
- Develops a behavioral macroeconomic model that assumes agents have limited cognitive abilities
- Shows how booms and busts are characteristic of market economies
- Explores the larger role of the central bank in the behavioral model
- Examines the destabilizing aspects of asset markets
Puntuacions i ressenyes
3,0
1 ressenya
Sobre l'autor
Paul De Grauwe is professor of international economics at the London School of Economics and Political Science. He is the author or coauthor of several books, including The Exchange Rate in a Behavioral Finance Framework (Princeton) and Economics of Monetary Union.
Puntua aquest llibre electrònic
Dona'ns la teva opinió.
Informació de lectura
Telèfons intel·ligents i tauletes
Instal·la l'aplicació Google Play Llibres per a Android i per a iPad i iPhone. Aquesta aplicació se sincronitza automàticament amb el compte i et permet llegir llibres en línia o sense connexió a qualsevol lloc.
Ordinadors portàtils i ordinadors de taula
Pots escoltar els audiollibres que has comprat a Google Play amb el navegador web de l'ordinador.
Lectors de llibres electrònics i altres dispositius
Per llegir en dispositius de tinta electrònica, com ara lectors de llibres electrònics Kobo, hauràs de baixar un fitxer i transferir-lo al dispositiu. Segueix les instruccions detallades del Centre d'ajuda per transferir els fitxers a lectors de llibres electrònics compatibles.
