Bounded rationality in rules of price adjustment and the Phillips Curve

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.

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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:	15 Sep 2023 08:35
URI:	http://eprints.lse.ac.uk/id/eprint/100699

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