Empirical study relating macroeconomic literacy and rational thinking

Lipshits, Rachel and Shaked, Sagit Barel and Zion, Uri Ben,(2019), Empirical study relating macroeconomic literacy and rational thinking. , Research in Economics, UNSPECIFIED

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We analyze macroeconomic literacy by insights from behavioral economics, while incor- porating individual differences in gender, cognitive ability and academic institution. Our sample consists of economic students from two academic institutions in Israel. For statis- tical analysis, we used Generalized Estimating Equations (GEE). Our main finding is that high-level male students who are prone toward mental accounting have very accurate ex- pectations of inflation, interest rate and unemployment, i.e. they are highly macroeconomic literate. Yet, we found no indication that rational thinkers are more literate than others.
Keywords : Behavioral economics Prospect theory Loss aversion Mental accounting Macroeconomic literacy Generalized estimating equations, UNSPECIFIED
Journal or Publication Title: Research in Economics
Volume: 73
Item Type: Article
Subjects: Ekonomi Pembangunan
Depositing User: Elok Inajati
Date Deposited: 27 Dec 2019 02:56
Last Modified: 27 Dec 2019 07:32
URI: https://repofeb.undip.ac.id/id/eprint/987

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