Implications of Behavioural Economics for Monetary Policy

Kód výsledku v 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>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Implications of Behavioural Economics for Monetary Policy

Popis výsledku v původním jazyce

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.

Název v anglickém jazyce

Implications of Behavioural Economics for Monetary Policy

Popis výsledku anglicky

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.

Druh

C - Kapitola v odborné knize

CEP obor

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OECD FORD obor

50202 - Applied Economics, Econometrics

Projekt

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Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2018

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název knihy nebo sborníku

Modeling Social Behavior and Its Applications

ISBN

978-1-5361-3667-8

Počet stran výsledku

14

Strana od-do

149-162

Počet stran knihy

279

Název nakladatele

Nova Science Publishers, Inc.

Místo vydání

Valencia, Spain

Kód UT WoS kapitoly

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