Please use this identifier to cite or link to this item:
http://hdl.handle.net/10071/10064
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 Rationality Endogenous fluctuations Stability |
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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File | Description | Size | Format | |
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publisher_version_Economic_letters.pdf Restricted Access | 312,06 kB | Adobe PDF | View/Open Request a copy |
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