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Rational thinking under costly information: macroeconomic implications

Bibliographic Details
Main Author: Gomes, O.
Publication Date: 2012
Format: Article
Language: eng
Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
Download full: https://ciencia.iscte-iul.pt/public/pub/id/22710
http://hdl.handle.net/10071/10064
Summary: 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.
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network_name_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
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spelling Rational thinking under costly information: macroeconomic implicationsExpectationsInformation acquisitionInflation dynamicsRationalityEndogenous fluctuationsStabilityThe 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.Elsevier2015-11-02T16:15:52Z2012-01-01T00:00:00Z20122015-11-02T16:14:36Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttps://ciencia.iscte-iul.pt/public/pub/id/22710http://hdl.handle.net/10071/10064eng0165-1765Gomes, O.info:eu-repo/semantics/embargoedAccessreponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiainstacron:RCAAP2024-07-07T03:36:54Zoai:repositorio.iscte-iul.pt:10071/10064Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireinfo@rcaap.ptopendoar:https://opendoar.ac.uk/repository/71602025-05-28T18:29:09.984899Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologiafalse
dc.title.none.fl_str_mv Rational thinking under costly information: macroeconomic implications
title Rational thinking under costly information: macroeconomic implications
spellingShingle Rational thinking under costly information: macroeconomic implications
Gomes, O.
Expectations
Information acquisition
Inflation dynamics
Rationality
Endogenous fluctuations
Stability
title_short Rational thinking under costly information: macroeconomic implications
title_full Rational thinking under costly information: macroeconomic implications
title_fullStr Rational thinking under costly information: macroeconomic implications
title_full_unstemmed Rational thinking under costly information: macroeconomic implications
title_sort Rational thinking under costly information: macroeconomic implications
author Gomes, O.
author_facet Gomes, O.
author_role author
dc.contributor.author.fl_str_mv Gomes, O.
dc.subject.por.fl_str_mv Expectations
Information acquisition
Inflation dynamics
Rationality
Endogenous fluctuations
Stability
topic Expectations
Information acquisition
Inflation dynamics
Rationality
Endogenous fluctuations
Stability
description 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.
publishDate 2012
dc.date.none.fl_str_mv 2012-01-01T00:00:00Z
2012
2015-11-02T16:15:52Z
2015-11-02T16:14:36Z
dc.type.status.fl_str_mv info:eu-repo/semantics/publishedVersion
dc.type.driver.fl_str_mv info:eu-repo/semantics/article
format article
status_str publishedVersion
dc.identifier.uri.fl_str_mv https://ciencia.iscte-iul.pt/public/pub/id/22710
http://hdl.handle.net/10071/10064
url https://ciencia.iscte-iul.pt/public/pub/id/22710
http://hdl.handle.net/10071/10064
dc.language.iso.fl_str_mv eng
language eng
dc.relation.none.fl_str_mv 0165-1765
dc.rights.driver.fl_str_mv info:eu-repo/semantics/embargoedAccess
eu_rights_str_mv embargoedAccess
dc.format.none.fl_str_mv application/pdf
dc.publisher.none.fl_str_mv Elsevier
publisher.none.fl_str_mv Elsevier
dc.source.none.fl_str_mv reponame:Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
instname:FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron:RCAAP
instname_str FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
instacron_str RCAAP
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reponame_str Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
collection Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
repository.name.fl_str_mv Repositórios Científicos de Acesso Aberto de Portugal (RCAAP) - FCCN, serviços digitais da FCT – Fundação para a Ciência e a Tecnologia
repository.mail.fl_str_mv info@rcaap.pt
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