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This paper estimates a New Keynesian model with new and old behavioral elements. Agents in the model exhibit cognitive discounting, or myopia: they discount variables far into the future at higher rates than typically implied in the benchmark model. We investigate the model under different...
Persistent link: https://www.econbiz.de/10013229788
We show what the rational inattention model predicts about the treatment effect of information provided during a randomized control trial. This is a non-trivial question because the model implies optimal attention choice before, during, and after an information treatment. The predictions of the...
Persistent link: https://www.econbiz.de/10014484232
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In this paper we study the determinants of citizens' trust in the European Central Bank during the start-up phase from 1999-2004. Using a country panel based on the Eurobarometer survey, we find that higher inflation rates reduce trust. Thus people appear to evaluate the performance of the ECB...
Persistent link: https://www.econbiz.de/10010281381
The aim of this paper is to review the historical development of monetary policy theory since the 1980s using as focal point the nexus among central bank governance, central banker preferences and monetary policy effectiveness. Assuming a positive perspective the review highlights three...
Persistent link: https://www.econbiz.de/10012210748
"This enlightening book comprehensively maps the current state of economic psychology and behavioural economics. Exploring key concepts, topics and models in the field, it is also a launching pad for future research, providing useful insights on how to make good personal and professional...
Persistent link: https://www.econbiz.de/10014372512
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Beyond the 'anguish of affluence' / James Ronald Stanfield & Michael C. Carroll -- Personalist economics : Danner's framework for the good life / Maryann O. Keating -- Personalism vs. individualism : a critical historical perspective / GianDemetrio Marangoni & Stefano Solari -- Personalism in...
Persistent link: https://www.econbiz.de/10008906365
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