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Lectures on Behavioral Macroeconomics by Paul De Grauwe (2012, Hardcover/DJ)
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Condition:
Very Good
A book that has been read but is in excellent condition. No obvious damage to the cover, with the dust jacket included for hard covers. No missing or damaged pages, no creases or tears, and no underlining/highlighting of text or writing in the margins. May be very minimal identifying marks on the inside cover. Very minimal wear and tear.
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Free local pickup from Englewood, New Jersey, United States.
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US $4.47 (approx S$ 5.74) USPS Media MailTM.
Located in: Englewood, New Jersey, United States
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Estimated between Thu, 18 Sep and Tue, 23 Sep to 94104
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eBay item number:266740789886
Item specifics
- Condition
- Series
- NA
- Unit Type
- Unit
- Personalized
- No
- Educational Level
- High School, Adult & Further Education, Vocational School
- MPN
- NA
- Features
- 1st Edition, Dust Jacket
- Level
- Technical, Business, Proficiency, Advanced, Intermediate, Beginner
- Unit Quantity
- 1
- Country/Region of Manufacture
- United States
- ISBN
- 9780691147390
About this product
Product Identifiers
Publisher
Princeton University Press
ISBN-10
0691147396
ISBN-13
9780691147390
eBay Product ID (ePID)
117205553
Product Key Features
Number of Pages
152 Pages
Language
English
Publication Name
Lectures on Behavioral Macroeconomics
Subject
Consumer Behavior, Economics / Macroeconomics
Publication Year
2012
Type
Textbook
Subject Area
Business & Economics
Format
Hardcover
Dimensions
Item Height
0.6 in
Item Weight
14 Oz
Item Length
9.5 in
Item Width
6.5 in
Additional Product Features
Intended Audience
College Audience
LCCN
2012-005226
Reviews
"De Grauwe voices the concerns of many macroeconomists regarding the empirical plausibility of the rational expectations assumption. He shows how a parsimonious, boundedly rational approach can improve the fit of sticky price macro models to the data in a number of important dimensions." --John Duffy, University of Pittsburgh, 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, "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, "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, "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
Dewey Edition
23
Illustrated
Yes
Dewey Decimal
339.019
Synopsis
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 an endemic feature of market economies. This new approach illustrates a richer macroeconomic dynamic that provides for a better understanding of fluctuations in output and inflation. De Grauwe shows that the behavioral model is driven by self-fulfilling waves of optimism and pessimism, or animal spirits. Booms and busts in economic activity are therefore natural outcomes of a behavioral model.The author uses this to analyze central issues in monetary policies, such as output stabilization, before extending his investigation into asset markets and more sophisticated forecasting rules. He also examines how well the theoretical predictions of the behavioral model perform when confronted with empirical data. * Develops a behavioral macroeconomic model that assumes agents have limited cognitive abilities * Shows how booms and busts are characteristic of market economies * Explores the larger role of the central bank in the behavioral model * Examines the destabilizing aspects of asset markets, 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., 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 an endemic feature of market economies. This new approach illustrates a richer macroeconomic dynamic that provides for a better understanding of fluctuations in output and inflation. De Grauwe shows that the behavioral model is driven by self-fulfilling waves of optimism and pessimism, or animal spirits. Booms and busts in economic activity are therefore natural outcomes of a behavioral model. The author uses this to analyze central issues in monetary policies, such as output stabilization, before extending his investigation into asset markets and more sophisticated forecasting rules. He also examines how well the theoretical predictions of the behavioral model perform when confronted with empirical data. Develops a behavioral macroeconomic model that assumes agents have limited cognitive abilities Shows how booms and busts are characteristic of market economies Explores the larger role of the central bank in the behavioral model Examines the destabilizing aspects of asset markets
LC Classification Number
HB172.5.G719 2012
Item description from the seller
Seller feedback (1,413)
- 7***9 (111)- Feedback left by buyer.Past monthVerified purchaseGreat transaction! Book is in great condition! Thanks!
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- eBay automated feedback- Feedback left by buyer.Past monthOrder completed successfully—tracked and on time
Seller feedback (1,413)
- 7***9 (111)- Feedback left by buyer.Past monthVerified purchaseGreat transaction! Book is in great condition! Thanks!
- eBay automated feedback- Feedback left by buyer.Past monthOrder completed successfully—tracked and on time
- eBay automated feedback- Feedback left by buyer.Past monthOrder completed successfully—tracked and on time