Animal spirits and monetary policy

By P. Grauwe. Social Science Research Network, 2008

338 citations recorded by the source corpus.

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Behavioral & Experimental Macroeconomics and Policy Analysis: A Complex Systems Approach (2018, background): “Other early papers in this area are De Grauwe (2011, 2012), who develops a behavioral NK macroeconomic model in which agents have cognitive limitations.”
Expectation Shocks and Learning as Drivers of the Business Cycle (2011, positive): “Animal spirits in the New Keynesian model have also been recently considered, although in a different fashion, by De Grauwe (2008).”
Heterogeneous Expectations in Monetary DSGE Models (2013, positive): “…according to the probability 8Anufriev, Assenza, Hommes, and Massaro (2012) use a similar modeling approach in a simple model with inflation expectations while De Grauwe (2010) assumes that agents use simple constant heuristics to forecast output gap in the context of a behavioral DSGE model.”