PHILLIPS CURVE IN ROMANIA IN CONDITIONS OF NEAR RATIONALITY

In a period of mainstream economic models failing to explain macroeconomic processes and individual economic behaviors, is necessary to reconsider dominant economic models by approaching with a higher accuracy the economic reality. The paper is proposing to contribute to Homo Oeconomicus updating process by analyzing one of its fundamental pillars: Phillips Curve, to observe potential latent influences that can be attributed to limited rationality or non-rationality and verify the precision of the model. The argument of the article takes form of the necessity of a deep evaluation of the concepts and paradigms of classical economics for adjustments with the purpose of a better representation of the reality and for an exact prediction of economic phenomena and their relations.