Behavioural Macroeconomics: Theory and Policy

by Yuemei Ji and Paul De Grauwe

Modern macroeconomics has been based on the paradigm of the rational individual capable of understanding the complexity of the world. This has created a very shallow theory of the business cycle in which nothing happens in the macroeconomy unless shocks occur from outside. Behavioural Macroeconomics: Theory and Policy uses a different paradigm. It assumes that individual agents experience cognitive limitations preventing them from having rational...

• Format: Hardcover
• Language: English
• ISBN: 019883232X
• ISBN13: 9780198832324
• Release Date: December 2019
• Publisher: Oxford University Press, USA
• Length: 272 Pages
• Weight: 1.50 lbs.
• Dimensions: 0.9" x 7.0" x 9.9"