000			02725nam a22002297a 4500
999			_c2980 _d2980
005			20220720103500.0
008			220720b ||||| |||| 00| 0 eng d
020			_a9781108447065
082			_a332.41019 _bROT
100			_aRotheli, Tobias F. _97847
245			_aThe behavioral economics of inflation expectations: macroeconomics meets psychology
260			_bCambridge University Press _aNew Jersey _c2020
300			_axix, 226 p.
365			_aGBP _b27.99
504			_aTable of Contents 1. Patterns and expectations 2. Extrapolation and expectations 3. Eliciting expectations under laboratory conditions 4. Features of the laboratory data 5. Similarity matching and scaling the experimental data 6. Pattern extrapolation and expectations measured by consumer surveys 7. Heterogeneity and uncertainty of inflation expectations 8. Inflation dynamics 9. Explaining the course of interest rates 10. Generalizing the pattern-based approach 11. A detour to income expectations 12. The Fisher effect in historical times 13. Expectations of high inflation 14. The Fisher effect in Asian economies 15. The Fisher effect in African economies 16. Estimates of expected inflation for major economies 17. Estimates of expected real interest rates for major economies Epilogue.
520			_aAs 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. Proposes a novel behavioral economics approach to expectations Findings help clarify macroeconomic debates on various issues in a wide range of countries This data can be used to interpret events such as the great recession of the USA
650			_aRational expectations (Economic theory) _97848
650			_aEconomics--Psychological aspects _91925
650			_aExtrapolation _97849
650			_aRational expectations (Economic theory)--Mathematical models _97850
942			_2ddc _cBK