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Rasyonel Dikkatsizlik Modeli ve Fiyat Katılıkları

Year 2017, Volume: 10 Issue: 4, 35 - 58, 06.10.2017
https://doi.org/10.25287/ohuiibf.297986

Abstract

Yeni
Keynesyen ekonomistler fiyat katılıklarının nasıl ortaya çıktığı konusundaki
çalışmalarını özellikle mikro temellere dayandırırlar. Sims (2003), bu
modellerden biri olan “Rasyonel Dikkatsizlik” (Rational Inattention) modeli ile
fiyatların belirlenmesi sürecini ele almıştır. 
Modelde, bütün bilgi kamuya açık ve erişilebilir olması durumunda bile
ajanlar bilgiyi değerlendirme kısıtlarından ötürü, verecekleri kararlarda
bilginin tamamını kullanamazlar. Ancak bilginin hangi kısmını işleyeceklerine
ve hangi bilgiye dikkat edeceklerine kendileri karar verirler. Bu çalışmada kullanılan
“Rasyonel Dikkatsizlik” modeli ile Türkiye’deki ekonomik ajanların makroekonomik
şoklara mı yoksa sektöre özgü şoklara mı daha çabuk ve etkili tepki verdikleri
araştırılmaktadır.

References

  • KLENOW, Pete J., KRYVTSOV, Oleksiy., “State-Dependent or Time-Dependent Pricing: Does It Matter for Recent U.S. Inflation?”, Quarterly Journal of Economics, 123(3), 2008, s. 863-904.
  • KÜÇÜKEFE, Bige, “Türkiye Ekonomisinde Fiyat Katılıkları”, BJSS Balkan Journal of Social Sciences, vol. 5, 2016, s. 19-29.
  • KÜÇÜKEFE, Bige- DEMİRÖZ, Dündar M., “Türkiye Ekonomisi Fiyat Katılıklarının Favar Modeli İle Analizi”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 2017, henüz basılmadı.
  • KYDLAND, Finn E., PRESCOTT, Edward C.: 1982 “The Computational Experiment: An Econometric Tool”, Journal of Economic Perspectives, 10(1), 1982, s. 69-85.
  • LEWIS, Kurt, “The Two-Period Rational Inattention Model: Accelerations and Analyzes”, Computational Economics, 33(1), 2009, s. 79-97.
  • LUCAS, Robert.E. “Expectations and the Neutrality of Money”, Journal of Economic Theory, 4, 1972, s.103-124.
  • LUO, Yulei., YOUNG, Eric, “Rational Inattention in Macroeconomics: A Survey”, MPRA journal, 54267,2013
  • MACKOWİAK, Bartosz - WİEDERHOLT, Mirko “Optimal Sticky Prices under Rational Attention”, American Economic Review, 99(3), 2009, s.769-803.
  • MACKOWİAK, Bartosz – WİEDERHOLT, Mirko, “Business Cycle Dynamics under Rational Inattention”, European Central Bank Working Paper Series, No. 1331, 2011.
  • MANKIW, N. Gregory – REIS, Ricardo, “Sticky Information Versus Sticky Prices: A proposal to Replace the New Keynesian Curve”, Quarterly Journal of Economics, 117, 2002, s. 1295-1328.
  • MATEJKA, Filip, “Rational Inattention: Prices and Information in Economics”, Doktora Tezi, Princeton Üniversitesi, 2010
  • MATEJKA, Filip, “Rigid Pricing and Rationally Inattentive Consumer”, Journal of Economic Theory, Volume 158, Part B, July 2015, s. 656–678
  • MATEJKA, Filip – MCKAY, Alisdair, “Simple Market Equilibria with Rationally Inattentive Consumers” American Economic Review Vol. 102, No. 3, May 2012, s. 24-29
  • PHELPS, Edmund S.,“Introduction: The New Microeconomics İn Employment And Inflation Theory”, Microeconomic Foundations Of Employement And Inflation Theory, W. W. Norton. New York, 1970, s.1-23.
  • REIS, Ricardo, “Inattentive Producers”, Review Of Economic Studies, 73, 2006, s. 793-821.
  • SIMS, Christopher A., “Implications Of Rational Inattention”, Journal Of Monetary Economics, 50(3), 2003, s. 665-690.
  • SIMS, Christopher A., “Rational Inattention: Beyond The Linear-Quadratic Case”, American Economic Review, 96(2), 2006, s.158-163.
  • SIMS, Christopher A., “Rational Inattention And Monetary Economics”, Handbook Of Monetary Economics, Cilt 3, 2006, s. 155-181.
  • TAYLOR, John. B., “Aggregate Dynamics And Staggered Contracts”, Journal Of Political Economy, 88, 1980, s.1-23.
  • TUTINO, Antonella, “Rationally Inattentive Consumption Choices”, Review Of Economic Dynamics, 16(3), 2013, s. 421-439.
  • WOODFORD, Michael,“Inperfect Common Knowledge And The Effects Of Monetary Policy”, Knowledge, Information, And Expectations In Modern Macroeconomics: In Honor Of Edmund S. Phelps, Editör: Philippe Aghion vd. , Princeton University Press, 2002
  • Sims, C. A. (2006). “Rational Inattention: Beyond The Linear-Quadratic Case”, American Economic Review, 96(2), s.158-163.
  • Sims, C. A. (2006). “Rational Inattention And Monetary Economics”, Handbook Of Monetary Economics, Cilt 3, s. 155-181.
  • Taylor, J. B. (1980). “Aggregate Dynamics And Staggered Contracts”, Journal Of Political Economy, 88, s.1-23.
  • Tutino, A.(2013) “Rationally Inattentive Consumption Choices”, Review Of Economic Dynamics, 16(3), s. 421-439.
  • Woodford, M. (2002). “Inperfect Common Knowledge And The Effects Of Monetary Policy”, Knowledge, Information, And Expectations In Modern Macroeconomics: In Honor Of Edmund S. Phelps, Editör: Philippe Aghion Vd. , Princeton University Press.

Rational Inattention Model and Price Rigidities

Year 2017, Volume: 10 Issue: 4, 35 - 58, 06.10.2017
https://doi.org/10.25287/ohuiibf.297986

Abstract

New Keynesian economists base their work on the emergence of price rigidities especially on micro-level. Sims (2003)’s "Rational Inattention" model is one of these models that deals with the process of pricing mechanism. In this model, even though all information is available to the public, they cannot use all the information in decisions they make. However, they decide which part of the information they will process and which information they will pay attention to. The "Rational Attention" model used in this study investigates whether economic agents in Turkey respond more quickly or effectively to macroeconomic shocks or sector specific shocks.

References

  • KLENOW, Pete J., KRYVTSOV, Oleksiy., “State-Dependent or Time-Dependent Pricing: Does It Matter for Recent U.S. Inflation?”, Quarterly Journal of Economics, 123(3), 2008, s. 863-904.
  • KÜÇÜKEFE, Bige, “Türkiye Ekonomisinde Fiyat Katılıkları”, BJSS Balkan Journal of Social Sciences, vol. 5, 2016, s. 19-29.
  • KÜÇÜKEFE, Bige- DEMİRÖZ, Dündar M., “Türkiye Ekonomisi Fiyat Katılıklarının Favar Modeli İle Analizi”, Hacettepe Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 2017, henüz basılmadı.
  • KYDLAND, Finn E., PRESCOTT, Edward C.: 1982 “The Computational Experiment: An Econometric Tool”, Journal of Economic Perspectives, 10(1), 1982, s. 69-85.
  • LEWIS, Kurt, “The Two-Period Rational Inattention Model: Accelerations and Analyzes”, Computational Economics, 33(1), 2009, s. 79-97.
  • LUCAS, Robert.E. “Expectations and the Neutrality of Money”, Journal of Economic Theory, 4, 1972, s.103-124.
  • LUO, Yulei., YOUNG, Eric, “Rational Inattention in Macroeconomics: A Survey”, MPRA journal, 54267,2013
  • MACKOWİAK, Bartosz - WİEDERHOLT, Mirko “Optimal Sticky Prices under Rational Attention”, American Economic Review, 99(3), 2009, s.769-803.
  • MACKOWİAK, Bartosz – WİEDERHOLT, Mirko, “Business Cycle Dynamics under Rational Inattention”, European Central Bank Working Paper Series, No. 1331, 2011.
  • MANKIW, N. Gregory – REIS, Ricardo, “Sticky Information Versus Sticky Prices: A proposal to Replace the New Keynesian Curve”, Quarterly Journal of Economics, 117, 2002, s. 1295-1328.
  • MATEJKA, Filip, “Rational Inattention: Prices and Information in Economics”, Doktora Tezi, Princeton Üniversitesi, 2010
  • MATEJKA, Filip, “Rigid Pricing and Rationally Inattentive Consumer”, Journal of Economic Theory, Volume 158, Part B, July 2015, s. 656–678
  • MATEJKA, Filip – MCKAY, Alisdair, “Simple Market Equilibria with Rationally Inattentive Consumers” American Economic Review Vol. 102, No. 3, May 2012, s. 24-29
  • PHELPS, Edmund S.,“Introduction: The New Microeconomics İn Employment And Inflation Theory”, Microeconomic Foundations Of Employement And Inflation Theory, W. W. Norton. New York, 1970, s.1-23.
  • REIS, Ricardo, “Inattentive Producers”, Review Of Economic Studies, 73, 2006, s. 793-821.
  • SIMS, Christopher A., “Implications Of Rational Inattention”, Journal Of Monetary Economics, 50(3), 2003, s. 665-690.
  • SIMS, Christopher A., “Rational Inattention: Beyond The Linear-Quadratic Case”, American Economic Review, 96(2), 2006, s.158-163.
  • SIMS, Christopher A., “Rational Inattention And Monetary Economics”, Handbook Of Monetary Economics, Cilt 3, 2006, s. 155-181.
  • TAYLOR, John. B., “Aggregate Dynamics And Staggered Contracts”, Journal Of Political Economy, 88, 1980, s.1-23.
  • TUTINO, Antonella, “Rationally Inattentive Consumption Choices”, Review Of Economic Dynamics, 16(3), 2013, s. 421-439.
  • WOODFORD, Michael,“Inperfect Common Knowledge And The Effects Of Monetary Policy”, Knowledge, Information, And Expectations In Modern Macroeconomics: In Honor Of Edmund S. Phelps, Editör: Philippe Aghion vd. , Princeton University Press, 2002
  • Sims, C. A. (2006). “Rational Inattention: Beyond The Linear-Quadratic Case”, American Economic Review, 96(2), s.158-163.
  • Sims, C. A. (2006). “Rational Inattention And Monetary Economics”, Handbook Of Monetary Economics, Cilt 3, s. 155-181.
  • Taylor, J. B. (1980). “Aggregate Dynamics And Staggered Contracts”, Journal Of Political Economy, 88, s.1-23.
  • Tutino, A.(2013) “Rationally Inattentive Consumption Choices”, Review Of Economic Dynamics, 16(3), s. 421-439.
  • Woodford, M. (2002). “Inperfect Common Knowledge And The Effects Of Monetary Policy”, Knowledge, Information, And Expectations In Modern Macroeconomics: In Honor Of Edmund S. Phelps, Editör: Philippe Aghion Vd. , Princeton University Press.
There are 26 citations in total.

Details

Subjects Economics
Journal Section Articles
Authors

Bige Kucukefe

Publication Date October 6, 2017
Submission Date March 14, 2017
Acceptance Date August 17, 2017
Published in Issue Year 2017 Volume: 10 Issue: 4

Cite

APA Kucukefe, B. (2017). Rasyonel Dikkatsizlik Modeli ve Fiyat Katılıkları. Ömer Halisdemir Üniversitesi İktisadi Ve İdari Bilimler Fakültesi Dergisi, 10(4), 35-58. https://doi.org/10.25287/ohuiibf.297986

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