Social And Behavioural Macroeconomics
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Social And Behavioural Macroeconomics
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Author : Christopher Tsoukis
language : en
Publisher: Springer Nature
Release Date : 2025-03-28
Social And Behavioural Macroeconomics written by Christopher Tsoukis and has been published by Springer Nature this book supported file pdf, txt, epub, kindle and other format this book has been release on 2025-03-28 with Business & Economics categories.
Despite significant theoretical advances in social and behavioural macroeconomics, little has been done to synthesise the disparate developments in these fields and point the way forward to future research directions and policy implications. This book reviews, unifies and extends diverse strands of thinking and shows how these theories can be used to improve macroeconomic modelling for policy development in a range of spheres. The book explores how the most empirically relevant socio-behavioural traits can widen the scope of macroeconomics to fruitfully address new issues and challenges, such as rising inequality, the change in the functional distribution of income (labour and capital shares), and a further understanding of the government spending multiplier. Chapters also address more traditional topics such as macroeconomic policy effectiveness, growth, saving and labour supply. Other, more open-ended themes of the book include whether the concept of individual rationality should be complemented by collective rationality; whether socio-behavioural traits underlie socially inefficient outcomes such as tragedies-of-the-commons, rat races, financial crises and global warming; and whether such traits can provide new foundations for (New) Keynesian macroeconomics. This book will be essential reading for advanced researchers and students working in macroeconomics and other social sciences, including psychology and politics, as well as those working on the theoretical end of public policy.
Behavioural Macroeconomics
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Author : Paul De Grauwe
language : en
Publisher:
Release Date : 2019
Behavioural Macroeconomics written by Paul De Grauwe and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019 with Business & Economics categories.
Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very shallow theory of the business cycle in which nothing happens in the macroeconomy unless shocks occur from outside. Behavioural Macroeconomics: Theory and Policy uses a different paradigm. It assumes that individual agents experience cognitive limitations preventing them from having rational expectations. Instead these individuals use simple rules of behaviour. Behavioural Macroeconomics introduces rationality by allowing individuals to learn from their mistakes and to switch to the rules that perform better. It introduces the idea of endogenously generated "animals spirits" that drive the business cycle and are in turn influenced by it, and applies this model to shed new light on a number of important issues. It analyses the role of fiscal policy in stabilizing the economy while maintaining debt sustainability; expands the model to include a banking sector and show how banks amplify the booms and busts; and explains how animal spirits help to synchronize the business cycles across countries. The model set out in Behavioural Macroeconomics leads to very different policy implications from the mainstream macroeconomic model. It shows how policymakers have a responsibility to stabilize an otherwise unstable system.
Behavioural Economics And Finance
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Author : Michelle Baddeley
language : en
Publisher: Routledge
Release Date : 2013
Behavioural Economics And Finance written by Michelle Baddeley and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013 with Business & Economics categories.
Standard models in economics and finance usually assume that people are rational, self-interested maximisers, effectively co-ordinated via the invisible hand of the price mechanism. Whilst these approaches produce tractable, simple models, they cannot fully capture the uncertainties and instabilities that affect everyday choices in today's complex world. Insights from the other social and behavioural sciences can help to fill the gap and behavioural economics is the subject which brings economics and finance together with psychology, neuroscience and sociology. Behavioural Economics and Finance introduces the reader to some of the key concepts and insights from this rich, inter-disciplinary approach to real-world decision-making.
Lectures On Behavioral Macroeconomics
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Author : Paul De Grauwe
language : en
Publisher: Princeton University Press
Release Date : 2012-10-14
Lectures On Behavioral Macroeconomics written by Paul De Grauwe and has been published by Princeton University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-10-14 with Business & Economics categories.
6.2 Introducing Asset Prices in the Behavioral Model -- 6.3 Simulating the Model -- 6.4 Should the Central Bank Care about Stock Prices? -- 6.5 Inflation Targeting and Macroeconomic Stability -- 6.6 The Trade-off between Output and Inflation Variability -- 6.7 Conclusion -- 7 Extensions of the Basic Model -- 7.1 Fundamentalists Are Biased -- 7.2 Shocks and Trade-offs -- 7.3 Further Extensions of the Basic Model -- 7.4 Conclusion -- 8 Empirical Issues -- 8.1 Introduction -- 8.2 The Correlation of Output Movements and Animal Spirits -- 8.3 Model Predictions: Higher Moments -- 8.4 Transmission of Monetary Policy Shocks -- 8.5 Conclusion -- References -- Index
Behavioral Economics
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Author : Masao Ogaki
language : en
Publisher: Springer
Release Date : 2018-02-05
Behavioral Economics written by Masao Ogaki and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-02-05 with Business & Economics categories.
This book is intended as a textbook for a course in behavioral economics for advanced undergraduate and graduate students who have already learned basic economics. The book will also be useful for introducing behavioral economics to researchers. Unlike some general audience books that discuss behavioral economics, this book does not take a position of completely negating traditional economics. Its position is that both behavioral and traditional economics are tools that have their own uses and limitations. Moreover, this work makes clear that knowledge of traditional economics is a necessary basis to fully understand behavioral economics. Some of the special features compared with other textbooks on behavioral economics are that this volume has full chapters on neuroeconomics, cultural and identity economics, and economics of happiness. These are distinctive subfields of economics that are different from, but closely related to, behavioral economics with many important overlaps with behavioral economics. Neuroeconomics, which is developing fast partly because of technological progress, seeks to understand how the workings of our minds affect our economic decision making. In addition to a full chapter on neuroeconomics, the book provides explanations of findings in neuroeconomics in chapters on prospect theory (a major decision theory of behavioral economics under uncertainty), intertemporal economic behavior, and social preferences (preferences that exhibit concerns for others). Cultural and identity economics seek to explain how cultures and people’s identities affect economic behaviors, and economics of happiness utilizes measures of subjective well-being. There is also a full chapter on behavioral normative economics, which evaluates economic policies based on findings and theories of behavioral economics.
Behavioural Economics And Experiments
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Author : Ananish Chaudhuri
language : en
Publisher: Routledge
Release Date : 2021-05-13
Behavioural Economics And Experiments written by Ananish Chaudhuri and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-05-13 with Business & Economics categories.
Behavioural Economics and Experiments addresses key topics within behavioural economics, exploring vital questions around decision-making and human nature. Assuming no prior knowledge of economics, the book features wide-ranging examples from literature, film, sport, neuroscience and beyond. Ananish Chaudhuri explores the complex relationships between human behaviour, society and decision-making, introducing readers to the latest work on heuristics, framing and anchoring, as well as ideas around fairness, trust and social norms. The book offers a fresh perspective on issues such as: Decision-making under uncertainty Firms’ pricing decisions Employment contracts Coordination failures in organizations Preventing bubbles in financial markets This is an ideal introduction for students of behavioural economics, experimental economics and economic decision-making on economics, public policy, psychology and business-related programmes, and will also be accessible to policymakers and curious laymen.
Behavioural Economics
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Author : Michelle Baddeley
language : en
Publisher: Oxford University Press
Release Date : 2017
Behavioural Economics written by Michelle Baddeley and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017 with Business & Economics categories.
Economics and behaviour -- Motivation and incentives -- Social lives -- Quick thinking -- Risky choices -- Taking time -- Personalities, moods, and emotions -- Behaviour in the macroeconomy -- Economic behaviour and public policy
Behavioral Economics And Finance Leadership
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Author : Julia Puaschunder
language : en
Publisher: Springer
Release Date : 2020-11-21
Behavioral Economics And Finance Leadership written by Julia Puaschunder and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-11-21 with Business & Economics categories.
This book explores human decision-making heuristics and studies how nudging and winking can help citizens to make rational choices. By applying the behavioral economics approach to political outcomes, it demonstrates how economics can be employed for the greater societal good. It starts with a review of the current literature on human decision-making failures in Europe and North America, presenting the wide range of nudges and winks developed to curb the harmful consequences of human decision-making fallibility. It then discusses the use of mental heuristics, biases and nudges in the finance domain to benefit economic markets by providing clear communication strategies. Lastly, the author proposes clear leadership and followership directives on nudging in the digital age. This book appeals to scholars and policy makers interested in rational decision-making and the use of nudging and winking in the digital age.
Behavioural Macroeconomics
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Author : Paul De Grauwe
language : en
Publisher: Oxford University Press
Release Date : 2019-10-25
Behavioural Macroeconomics written by Paul De Grauwe and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-10-25 with Business & Economics categories.
Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very shallow theory of the business cycle in which nothing happens in the macroeconomy unless shocks occur from outside. Behavioural Macroeconomics: Theory and Policy uses a different paradigm. It assumes that individual agents experience cognitive limitations preventing them from having rational expectations. Instead these individuals use simple rules of behaviour. Behavioural Macroeconomics introduces rationality by allowing individuals to learn from their mistakes and to switch to the rules that perform better. It introduces the idea of endogenously generated "animals spirits" that drive the business cycle and are in turn influenced by it, and applies this model to shed new light on a number of important issues. It analyses the role of fiscal policy in stabilizing the economy while maintaining debt sustainability; expands the model to include a banking sector and show how banks amplify the booms and busts; and explains how animal spirits help to synchronize the business cycles across countries. The model set out in Behavioural Macroeconomics leads to very different policy implications from the mainstream macroeconomic model. It shows how policymakers have a responsibility to stabilize an otherwise unstable system.
Handbook Of Research Methods In Behavioural Economics
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Author : Morris Altman
language : en
Publisher: Edward Elgar Publishing
Release Date : 2023-03-02
Handbook Of Research Methods In Behavioural Economics written by Morris Altman and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-03-02 with Business & Economics categories.
This comprehensive Handbook addresses a wide variety of methodological approaches adopted and developed by behavioural economists, exploring the implications of such innovations for analysis and policy.