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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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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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中文摘要：
本文汇集了宏观经济政策和行为经济学中不同的时间不一致性方法。行为微观经济学中的行为折扣函数嵌入到诱惑与强制的博弈论分析中，以构建一个包含时间一致性和时间不一致性偏好的嵌套组合模型。本文的分析表明，采用双曲线/准双曲线贴现，通货膨胀目标的可执行范围缩小了。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影响，并结合当前的宏观经济政策辩论进行了具体探讨。
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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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