A first approach for depicting economic narratives propagated by Central Banks in the formation and diffusion of expectations

Abstract

A mechanism for depicting the economic narratives based on an evolutionary analogy is here proposed, in which the narrative is the phenotype or observable characteristics and its genotype is formed by a set of relevant concepts, defined by the researcher and constrained by the underlying reality. The genotype of the economic narrative evolves, assuming different quantitative impacts in the narrative, and is subject to mutations (creation of new or alter genotypes). The result of this evolutionary process is the emergence of temporally determined economic narratives.