Ding, Sitong (2018) Bounded rationality in rules of price adjustment and the Phillips Curve. In: LSE Research Festival 2018, 2018-02-19 - 2018-02-24, London School of Economics, London, United Kingdom, GBR.
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Text (Bounded rationality RA028-Sitong-Ding)
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Abstract
This paper examines an alternative microfoundation for the Phillips Curve by considering a possibility where price setters are constrained by the length of the time horizon over which they can form rational expectations, and they use a combination of the central bank's inflation target and past prices as heuristics.
| Item Type: | Conference or Workshop Item (Poster) |
|---|---|
| Additional Information: | © 2018 The Author |
| Divisions: | LSE |
| Subjects: | H Social Sciences > HB Economic Theory |
| Date Deposited: | 03 May 2019 13:54 |
| Last Modified: | 12 Dec 2024 04:58 |
| URI: | http://eprints.lse.ac.uk/id/eprint/100699 |
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