000			03055nam a2200385 i 4500
001			CR9781316987056
003			UkCbUP
005			20240301142637.0
006			m|||||o||d||||||||
007			cr||||||||||||
008			170908s2020||||enk o ||1 0|eng|d
020			_a9781316987056 (ebook)
020			_z9781108482851 (hardback)
020			_z9781108447065 (paperback)
040			_aUkCbUP _beng _erda _cUkCbUP
050	0	0	_aHB3731 _b.R67 2020
082	0	0	_a332.4/1019 _223
100	1		_aRötheli, Tobias F., _eauthor.
245	1	4	_aThe behavioral economics of inflation expectations : _bmacroeconomics meets psychology / _cTobias F. Rötheli.
264		1	_aCambridge : _bCambridge University Press, _c2020.
300			_a1 online resource (xix, 226 pages) : _bdigital, PDF file(s).
336			_atext _btxt _2rdacontent
337			_acomputer _bc _2rdamedia
338			_aonline resource _bcr _2rdacarrier
500			_aTitle from publisher's bibliographic system (viewed on 17 Jul 2020).
505	0		_aPatterns and expectations -- Extrapolation and expectations -- Eliciting expectations under laboratory conditions -- Features of the laboratory data -- Similarity matching and scaling the experimental data -- Pattern extrapolation and expectations measured by consumer surveys -- Heterogeneity and uncertainty of inflation expectations -- Inflation dynamics -- Explaining the course of interest rates -- Generalizing the pattern-based approach -- A detour to income expectations -- The Fisher effect in historical times -- Expectations of high inflation -- The Fisher effect in Asian economies -- The Fisher effect in African economies -- Estimates of expected inflation for major economies -- Estimates of expected real interest rates for major economies.
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.
650		0	_aRational expectations (Economic theory)
650		0	_aRational expectations (Economic theory) _xMathematical models.
650		0	_aInflation (Finance)
650		0	_aEconomics _xPsychological aspects.
650		0	_aExtrapolation.
776	0	8	_iPrint version: _z9781108482851
856	4	0	_uhttps://doi.org/10.1017/9781316987056
999			_c9436 _d9436