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Inflation Targeting and Behavioural Economics: Introduction

In: Proceedings of FIKUSZ '12

Author

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  • Martina Vránková

    () (University of Economics)

Abstract

This contribution can be understood as a theoretical introductory chapter which focuses on an increasingly widespread monetary regime – inflation targeting within a relatively new economic field – Behavioural economics. Mainstream economics have a tendency to ignore the relatively extensive and deep knowledge of humanities sciences dealing with human behaviour and decision-making processes. Why not improve the standing economical models and the current paradigma with this knowledge? The target of this paper is to outline the possibilities of using behavioural economics to improve inflation targeting.

Suggested Citation

  • Martina Vránková, 2012. "Inflation Targeting and Behavioural Economics: Introduction," Proceedings of FIKUSZ '12,in: Pál Michelberger (ed.), Proceedings of FIKUSZ '12, pages 91-100 Óbuda University, Keleti Faculty of Business and Management.
  • Handle: RePEc:pkk:sfyr12:91-100
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    File URL: http://www.kgk.uni-obuda.hu/sites/default/files/08_Martina_Vrankova.pdf
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    References listed on IDEAS

    as
    1. Berg, Nathan, 2003. "Normative behavioral economics," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 32(4), pages 411-427, September.
    2. Forsells, Magnus & Kenny, Geoff, 2002. "The rationality of consumers' inflation expectations: survey-based evidence for the euro area," Working Paper Series 0163, European Central Bank.
    3. Carl E. Walsh, 2009. "Inflation Targeting: What Have We Learned?," International Finance, Wiley Blackwell, vol. 12(2), pages 195-233, August.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Behavioural economics; inflation targeting; central bank behaviour;

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M37 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Advertising

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