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Book review: “The Behavioral Economics of Inflation Expectations: Macroeconomics Meets Psychology"

Author

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  • Andrea Sbarile

    (University of Genoa, Department of Economics, Genoa Italy)

Abstract

Many researches in behavioral economics and in other related fields consider the importance of relying on patterns (shapes, forms). Patterns play an important role in the process of assessing future probabilities and learning from experiences. In the present book, Tobias Rötheli, that has studied this argument for a long time (Rötheli, 1998; 2011) uses the theories on cognitive psychology and the creation of patterns for the analysis of inflation forecasting where expectations consist of extrapolating simple time series patterns for the variable to be forecast.

Suggested Citation

  • Andrea Sbarile, 2022. "Book review: “The Behavioral Economics of Inflation Expectations: Macroeconomics Meets Psychology"," Economia Internazionale / International Economics, Camera di Commercio Industria Artigianato Agricoltura di Genova, vol. 75(1), pages 131-134.
    • Handle: RePEc:ris:ecoint:0916
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    References listed on IDEAS

    as
    1. Arifovic, Jasmina & Petersen, Luba, 2017. "Stabilizing expectations at the zero lower bound: Experimental evidence," Journal of Economic Dynamics and Control, Elsevier, vol. 82(C), pages 21-43.
    2. Kryvtsov, Oleksiy & Petersen, Luba, 2021. "Central bank communication that works: Lessons from lab experiments," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 760-780.
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