摘要
随着行为经济学和行为金融学不断融入货币经济学研究中,行为货币经济学开始发展并逐渐成为新的研究热点。本文在Rötheli的研究范式下对货币经济学文献中有关行为学原理的理论和实证研究进行文献综述,对重点文献进行系统梳理和概括。从20世纪晚期的一系列实证研究出发,本文探讨了经典经济学和行为货币金融学如何提出新的创见,并从行为学的角度审视货币发展史、价格粘性和通胀预期相关理论。本文进而介绍了行为经济学如何嵌入货币经济学,提出了哪些主要的方法和思路。此外,本文也在货币需求理论和多种货币函数的基础上,综述了实验货币经济学,包括“学习预测”实验和货币实验室实验。货币实验室实验的发展为捕捉货币经济学中的行为因素提供了更多可能性,货币实验室实验已经开始应用于货币政策中,行为货币经济学为货币政策目标的制定和货币工具的选择提供了新的思路。
With the continuous integration of behavioral economics and behavioral finance with monetary economics,behavioral monetary economics has gradually become a hot research area of modern economics.Under the research paradigm of Rötheli,we review the theoretical and empirical studies on behavioral monetary economics,and systematically sort out and summarize the key literature in this field.Starting from the empirical findings in the late 20th century,we discuss how both rational monetary economics and behavioral monetary economics have contributed to the literature,and discuss the history of money and review the relevant theories of price stickiness and inflation expectation from the perspective of behavioral science.We then illustrate how behavioral economics is embedded into monetary economics,and what the main methods and ideas are.Based on the theory of money demand and various monetary functions,we summarize experimental monetary economics,including the learning to forecast experiment and the monetary laboratory experiment.The development of monetary laboratory experiments provides more possibilities to capture the behavioral factors in monetary economics,and monetary laboratory experiments have been applied in monetary policy.Behavioral monetary economics provides new ideas for the formulation of the objectives of monetary policy and the selection of monetary instruments.Finally,based on summarizing the relevant literature,we provide suggestions for future research on behavioral monetary economics.
作者
方兴
邵雯雯
沙叶舟
FANG Xing;SHAO Wenwen;SHA Yezhou(Capital University of Economics and Business,Beijing,China)
出处
《经济学动态》
CSSCI
北大核心
2020年第9期130-144,共15页
Economic Perspectives
基金
北京市教委科研计划项目“后金融危机时代人民币汇率变化趋势和对策研究”(SM201110038008)。
关键词
行为货币经济学
货币政策
货币经济学
行为经济学
实验货币经济学
Behavioral Monetary Economics
Monetary Policy
Monetary Economics
Behavioral Economics
Experimental Monetary Economics
