The Behavioral Economics of Inflation Expectations - Softcover

Rötheli, Tobias F.

 
9781108447065: The Behavioral Economics of Inflation Expectations
Softcover
ISBN 10: 1108447066 ISBN 13: 9781108447065
Publisher: Cambridge University Press, 2020

Synopsis

As one of the first texts to take a behavioral approach to macroeconomic expectations, this book introduces a new way of doing economics. Rötheli 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.

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About the Author

Tobias F. Rötheli is Professor of Macroeconomics at the University of Erfurt.

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Publisher
Cambridge University Press
Publication date
2020
Language
English
ISBN 10 
1108447066
ISBN 13 
9781108447065
Binding
Paperback
Number of pages
248

Other Popular Editions of the Same Title

9781108482851: The Behavioral Economics of Inflation Expectations: Macroeconomics Meets Psychology

Featured Edition

ISBN 10:  1108482856 ISBN 13:  9781108482851
Publisher: Cambridge University Press, 2020
Hardcover