Tuesday, October 21, 2008
The Fed Discusses Behavioural Economics
The Wall Street Journal Marketwatch recently mentioned a special section in the new issue of the Richmond Fed's 'Region Focus'. This section "explores how... debate among economists is livelier than ever... Have Economists Abandoned the Real World? ...Are People Really Rational? ...Are Blogs Making Economics More Accessible?". The current edition of the Richmond Fed's 'Region Focus' is available here.
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I think we mentioned on the blog before that the Boston Fed has a Research Center for Behavioral Economics and Decisionmaking. Alois Stutzer is one some of the Center papers. Dan Ariely is a visiting scholar at the Centre.
http://www.bos.frb.org/economic/bedm/index.htm
I think we also mentioned before that Janet Yellen from the San Fran Fed has a paper on "Implications of Behavioral Economics for Monetary Policy". There's a neat link to her speech here:
http://www.frbsf.org/news/speeches/2007/0928.html
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