Phillips curves, behavioral economics and post-Keynesian macroeconomics

Peter Skott

Post-Keynesians have questioned the relevance of behavioral economics on methodological grounds, citing the predominant focus of the behavioral literature on possible deviations of individual behavior from extreme standards of perfect optimization. The very limited influence of behavioral economics on post-Keynesian economics is unfortunate, however: it would a serious mistake to ignore the insights and empirical evidence from behavioral economics. The influence of norms of fairness on wage formation and inflation is used to illustrate this argument.

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Year of publication:	2023
Authors:	Skott, Peter
Publisher:	Amherst : University of Massachusetts Amherst
Subject:	distributional conflict \| inflation \| wage norms \| wage stickiness \| path dependence \| methodology \| Phillips-Kurve \| Phillips curve \| Theorie \| Theory \| Lohnrigidität \| Wage rigidity \| Verhaltensökonomik \| Behavioral economics \| Postkeynesianismus \| Post-Keynesian economics \| Inflation \| Keynesianismus \| Keynesian economics \| Pfadabhängigkeit \| Path dependence \| Lohn \| Wages

Extent:	1 Online-Ressource (circa 16 Seiten) Illustrationen
Series:	Economics Department working paper series. - Amherst, Mass. : [Verlag nicht ermittelbar], ZDB-ID 2407593-0. - Vol. 2023, 4
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Graue Literatur ; Non-commercial literature ; Arbeitspapier ; Working Paper
Language:	English
Notes:	Nr. 2023, 4 der Reihe doppelt gezählt
Other identifiers:	hdl:10419/283958 [Handle]
Classification:	E12 - Keynes; Keynesian; Post-Keynesian ; E31 - Price Level; Inflation; Deflation ; e71
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10014229836