Towards a Behavioral Macroeconomics in Peru
DOI:
https://doi.org/10.26439/ddee.vi001.5352Keywords:
behavioral economics, macroeconomics, animal spirits, psychologyAbstract
This paper studies the development of the rational component that dominates economic theory today and the emergence of an alternative approach: behavioral economics based on the dual decision-making system that all economic agents have. Thus, elements typically absent in macroeconomic models such as confidence can play an essential role in the formation of the main aggregates: consumption and investment. The paper presents empirical evidence that indicates how the inclusion of indicators of consumer confidence and plans to accelerate investment could become an important input for modeling in the future.
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