[经济学] 行为宏观经济政策：时间不一致性的新视角 [推广有奖]

摘要翻译：
本文汇集了宏观经济政策和行为经济学对时间不一致性的不同方法。行为微观经济学中的行为贴现函数被嵌入诱惑与强制的博弈论分析中，以构建一个包含时间一致和时间不一致偏好组合的模型。本文的分析表明，在双曲/准双曲贴现的情况下，通货膨胀目标的可执行范围是缩小的。这表明，在某些条件下，货币目标的有效性受到限制。本文最后讨论了货币政策的含义，特别是根据当前宏观经济政策的辩论进行了探讨。
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英文标题：
《Behavioural Macroeconomic Policy: New perspectives on time inconsistency》
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作者：
Michelle Baddeley
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最新提交年份：
2019
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分类信息：

一级分类：Economics        经济学
二级分类：Theoretical Economics        理论经济学
分类描述：Includes theoretical contributions to Contract Theory, Decision Theory, Game Theory, General Equilibrium, Growth, Learning and Evolution, Macroeconomics, Market and Mechanism Design, and Social Choice.
包括对契约理论、决策理论、博弈论、一般均衡、增长、学习与进化、宏观经济学、市场与机制设计、社会选择的理论贡献。
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一级分类：Economics        经济学
二级分类：General Economics        一般经济学
分类描述：General methodological, applied, and empirical contributions to economics.
对经济学的一般方法、应用和经验贡献。
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一级分类：Quantitative Finance        数量金融学
二级分类：Economics        经济学
分类描述：q-fin.EC is an alias for econ.GN. Economics, including micro and macro economics, international economics, theory of the firm, labor economics, and other economic topics outside finance
q-fin.ec是econ.gn的别名。经济学，包括微观和宏观经济学、国际经济学、企业理论、劳动经济学和其他金融以外的经济专题
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英文摘要：
  This paper brings together divergent approaches to time inconsistency from macroeconomic policy and behavioural economics. Behavioural discount functions from behavioural microeconomics are embedded into a game-theoretic analysis of temptation versus enforcement to construct an encompassing model, nesting combinations of time consistent and time inconsistent preferences. The analysis presented in this paper shows that, with hyperbolic/quasihyperbolic discounting, the enforceable range of inflation targets is narrowed. This suggests limits to the effectiveness of monetary targets, under certain conditions. The paper concludes with a discussion of monetary policy implications, explored specifically in the light of current macroeconomic policy debates.
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PDF链接：
https://arxiv.org/pdf/1907.07858