CORDIS Project
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This project aims to improve macroeconomic models by incorporating individual behaviors and the concept of stickiness in decision-making. It seeks to better understand how these factors influence the economy's response to various shocks.
A large part of macroeconomics embeds some form of inertial behavior by firms and/or house- holds.
Whether it is in price or wage setting, real or financial investment choices, saving or consumption decisions, some element of stickiness leading to inaction ranges in individuals’ choices (in prices, consumption, investment) is often included to reconcile the model with observed individual data.
Yet the specific assumptions to model this inertia mostly reflect tractability concerns, while less att…
Istituto Einaudi per l'Economia e la Finanza
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