scholarly journals Macroeconomic Implications of Near Rational Behavior: An Application to the Italian Phillips Curve

2009 ◽  
Author(s):  
Novella Maugeri
Keyword(s):  
Phillips Curve ◽  
Rational Behavior ◽  
Macroeconomic Implications

scholarly journals Wage Curve vs. Phillips Curve : Are There Macroeconomic Implications?

1997 ◽  
Vol 1997 (51) ◽  
pp. 1-19 ◽  
Author(s):  
Karl Whelan ◽  
Keyword(s):  
Phillips Curve ◽  
Wage Curve ◽  
Macroeconomic Implications

scholarly journals The Inflation-Output Trade-Off with Downward Wage Rigidities

2011 ◽  
Vol 101 (4) ◽  
pp. 1436-1466 ◽  
Author(s):  
Pierpaolo Benigno ◽  
Luca Antonio Ricci
Keyword(s):  
Phillips Curve ◽  
Closed Form Solution ◽  
Form Solution ◽  
Nominal Wage ◽  
Average Output ◽  
Macroeconomic Volatility ◽  
Long Run ◽  
Idiosyncratic Shocks ◽  
Dynamic Stochastic ◽  
Macroeconomic Implications

The macroeconomic implications of downward nominal wage rigidities are analyzed via a dynamic stochastic general equilibrium model featuring aggregate and idiosyncratic shocks. A closed-form solution for a long-run Phillips curve relates average output gap to average wage inflation: it is virtually vertical at high inflation and flattens at low inflation. Macroeconomic volatility shifts the curve outwards and reduces output. The results imply that stabilization policies play an important role, and that optimal inflation may be positive and differ across countries with different macroeconomic volatility. Results are robust to relaxing the wage constraint, for example, when large idiosyncratic shocks arise. (JEL E23, E24, E31, E63)

Review of Emotional well-being through rational behavior training. Rev. 3rd printing.

1979 ◽  
Vol 24 (4) ◽  
pp. 344-344
Author(s):  
ALVIN G. BURSTEIN
Keyword(s):  
Well Being ◽  
Rational Behavior

Thomas Schelling, Robert Aumann and Interactive Decision Theory (2005 Nobel Prize in Economics)

2006 ◽  
pp. 4-21
Author(s):  
A. Belyanin
Keyword(s):  
Social Sciences ◽  
International Relations ◽  
Nobel Prize ◽  
Rational Behavior ◽  
Human Interactions ◽  
The Game Theory ◽  
Applied Industrial Organization ◽  
Nobel Prize Laureates ◽  
Thomas Schelling ◽  
Human Rationality

The paper describes the contributions of T. Schelling and R. J. Aumann, the Nobel Prize laureates of 2005 in economics, to modern economics and social sciences. Their key contributions were in the field of the game theory - a major tool to study human interactions and rational behavior in a wide variety of contexts, from applied industrial organization to labor economics, public policy, international relations and political science. Works by Aumann and Schelling were pathbreaking in this respect, and have paved the way to many modern developments that enhance our understanding of human rationality.

A New Model of Man in Economics

2011 ◽  
pp. 78-98
Author(s):  
M. Storchevoy
Keyword(s):  
Behavioral Economics ◽  
Human Behavior ◽  
Social Factors ◽  
Rational Behavior ◽  
New Model ◽  
Common Framework

The paper draws on the most recent research in the field of behavioral economics, neuroscience, and other disciplines and shows how biological and social factors interact and co-determine real human behavior. The author considers in detail various affects and forms of non-rational behavior. He proposes a common framework for such analysis, where each of those forms of behavior becomes the result of conscious or evolutionary-driven choice.

The Myth of the East Asian Miracle: The Macroeconomic Implications of Soft Budgets

1999 ◽  
Author(s):  
Chong-En Bai ◽  
Yijiang Wang
Keyword(s):  
East Asian ◽  
Macroeconomic Implications

The Non-Linear Phillips Curve and Inflation Forecast Targeting

1999 ◽  
Author(s):  
Eric Schaling
Keyword(s):  
Phillips Curve ◽  
Non Linear
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