Lectures on Behavioral Macroeconomics

by Paul De Grauwe

In mainstream economics, and particularly in New Keynesian macroeconomics, the booms and busts that characterize capitalism arise because of large external shocks. The combination of these shocks and the slow adjustments of wages and prices by rational agents leads to cyclical movements. In this book, Paul De Grauwe argues for a different macroeconomics model--one that works with an internal explanation of the business cycle and factors in agents'...

• Format: Hardcover
• Language: English
• ISBN: 0691147396
• ISBN13: 9780691147390
• Release Date: October 2012
• Publisher: Princeton University Press
• Length: 152 Pages
• Weight: 0.88 lbs.
• Dimensions: 0.8" x 6.1" x 9.2"