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Author(s): Gomes, O.
Date: 2012
Title: Rational thinking under costly information: macroeconomic implications
Volume: 115
Number: 3
Pages: 427-430
ISSN: 0165-1765
Keywords: Expectations
Information acquisition
Inflation dynamics
Endogenous fluctuations
Abstract: The notion of optimized rational behavior in the formation of expectations is used in this note to study the dynamics of a simple macroeconomic model. In a setting where departures from stability are not possible under perfect foresight, the selection of an optimal degree of rationality may lead to the generation of long-term endogenous fluctuations.
Peerreviewed: Sim
Access type: Embargoed Access
Appears in Collections:BRU-RI - Artigos em revistas científicas internacionais com arbitragem científica

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