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Lectures on Behavioral Macroeconomics
Paul de Grauwe
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Description for Lectures on Behavioral Macroeconomics
Hardback. Explains the fluctuations of economic activity that are an endemic feature of market economies. This title argues for a different macroeconomics model - one that works with an internal explanation of the business cycle and factors in agents limited cognitive abilities. Num Pages: 152 pages, 64 line illus. 4 tables. BIC Classification: GPQ; KCB; KCK. Category: (P) Professional & Vocational; (U) Tertiary Education (US: College). Dimension: 240 x 161 x 17. Weight in Grams: 390.
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 ... Read more
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 ... Read more
Product Details
Publisher
Princeton University Press
Number of pages
152
Format
Hardback
Publication date
2012
Condition
New
Weight
390g
Number of Pages
152
Place of Publication
New Jersey, United States
ISBN
9780691147390
SKU
V9780691147390
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-1
About Paul de Grauwe
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.
Reviews for Lectures on Behavioral Macroeconomics
"A refreshing, much curiosity-inspiring book. Recommended."
Acemaxx Capital Management AG_blog "These Lectures on Behavioral Macroeconomics remind us that De Grauwe is also an excellent macroeconomic theorist and a wonderful narrator."
Domenico Delli Gatti, Journal of Economic Literature
Acemaxx Capital Management AG_blog "These Lectures on Behavioral Macroeconomics remind us that De Grauwe is also an excellent macroeconomic theorist and a wonderful narrator."
Domenico Delli Gatti, Journal of Economic Literature