.png){kind=icon}
返回
Myopia and Anchoring
.png){kind=icon}
OA
AI
DOI：10.1257/aer.20191436.png)
.png){kind=icon}
原文求助.png){kind=icon}
分享.png){kind=icon}
收藏
摘要
En 中文
We develop an equivalence between the equilibrium effects of incomplete information and those of two behavioral distortions: myopia, or extra discounting of the future; and anchoring of current behavior to past behavior, as in models with habit persistence or adjustment costs. We show how these distortions depend on higher-order beliefs and GE mechanisms, and how they can be disciplined by evidence on expectations. We finally illustrate the use of our toolbox with a quantitative application in the context of inflation, a bridge to the HANK literature, and an extension to networks.
Keyword:
STICKY-INFORMATION
MONETARY-POLICY
SOCIAL VALUE
EXPECTATIONS
CONSUMPTION
DYNAMICS
PRICES
MODEL
RISE
期刊
IF:
11.6
论文数:
5.0K
被引数:
7.5W
机构
引用论文
.png){kind=icon}
分享收藏分享收藏
查看更多内容