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Behavioural Macroeconomics and the Aggregate Supply Puzzle

Steinar Holden ()

Nordic Journal of Political Economy, 2004, vol. 30, 27-35

Abstract: The paper provides a short and simplified overview of important deviations from the economic man assumption that have been documented in research by cognitive psychologists and experimental economists. After the overview, I proceed to look at one specific topic within macroeconomics – the short run aggregate supply schedule – and discuss whether theories based on behavioural assumptions might perhaps resolve weaknesses in the more traditional approach.

Keywords: behavioural macroeconomics; bounded rationality; aggregate supply (search for similar items in EconPapers)
JEL-codes: E31 E52 D6 (search for similar items in EconPapers)
Date: 2004
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Handle: RePEc:noj:journl:v:30:y:2004:p:27-35