Implications of Behavioural Economics for Monetary Policy

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F18%3A10236953" target="_blank" >RIV/61989100:27510/18:10236953 - isvavai.cz</a>
Result on the web
—
DOI - Digital Object Identifier
—

Result language
angličtina
Original language name
Implications of Behavioural Economics for Monetary Policy
Original language description
The paper deals with the importance of the behavioural economics for the monetary policy. The prevailing dominance of mathematical interpretation of economics hit its limits, as the approach using econometric modelling had become a subject of large criticism. The main objective of the paper is to evaluate whether it is possible to consider behavioural economics as a natural evolutionary development in economic theory. The theoretical part of the paper is devoted to highlighting the concept of economics, as a pure social rather than a pure natural science. The attention is focused on the assumptions of econometric models used for macroeconomic forecasting as well, which have been proven to be unrealistic. The empirical part of the paper deals with the application of the findings of behavioural economics for the monetary policy in solving contemporary problems. With the prism of the behavioural approach, the authors discussed non-conventional measures applied by central banks with reserve currency as well.
Czech name
—
Czech description
—

Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Similar results(10)