<?xml version="1.0" encoding="UTF-8"?>
<!DOCTYPE article PUBLIC "-//NLM//DTD JATS (Z39.96) Journal Publishing DTD v1.3 20210610//EN" "JATS-journalpublishing1-3.dtd">
<article article-type="research-article" dtd-version="1.3" xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xml:lang="ru"><front><journal-meta><journal-id journal-id-type="publisher-id">voprecotest</journal-id><journal-title-group><journal-title xml:lang="ru">Вопросы экономики</journal-title><trans-title-group xml:lang="en"><trans-title>Voprosy Ekonomiki</trans-title></trans-title-group></journal-title-group><issn pub-type="ppub">0042-8736</issn><publisher><publisher-name>Voprosy Ekonomiki, NP</publisher-name></publisher></journal-meta><article-meta><article-id pub-id-type="doi">10.32609/0042-8736-2016-12-88-103</article-id><article-id custom-type="elpub" pub-id-type="custom">voprecotest-262</article-id><article-categories><subj-group subj-group-type="heading"><subject>Research Article</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="ru"><subject>ВОПРОСЫ ТЕОРИИ</subject></subj-group><subj-group subj-group-type="section-heading" xml:lang="en"><subject>ISSUES OF THEORY</subject></subj-group></article-categories><title-group><article-title>Поведенческая макроэкономика: на пути к новому синтезу?</article-title><trans-title-group xml:lang="en"><trans-title>Behavioral macroeconomics: Towards a newsynthesis?</trans-title></trans-title-group></title-group><contrib-group><contrib contrib-type="author" corresp="yes"><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Никифоров</surname><given-names>А. А.</given-names></name><name name-style="western" xml:lang="en"><surname>Nikiforov</surname><given-names>A.</given-names></name></name-alternatives><bio xml:lang="ru"><p>д.  э.  н., проф. экономического факультета МГУ имени М.  В. Ломоносова (Москва)</p></bio><email xlink:type="simple">nikiforoff_a@mail.ru</email><xref ref-type="aff" rid="aff-1"/></contrib><contrib contrib-type="author" corresp="yes"><name-alternatives><name name-style="eastern" xml:lang="ru"><surname>Антипина</surname><given-names>О. Н.</given-names></name><name name-style="western" xml:lang="en"><surname>Antipina</surname><given-names>O.</given-names></name></name-alternatives><bio xml:lang="ru"><p>д.  э.  н., проф. экономического факультета МГУ имени М.  В. Ломоносова (Москва)</p></bio><email xlink:type="simple">antipina@econ.msu.ru</email><xref ref-type="aff" rid="aff-1"/></contrib></contrib-group><aff-alternatives id="aff-1"><aff xml:lang="ru"><institution>МГУ имени М. В. Ломоносова</institution><country>Россия</country></aff><aff xml:lang="en"><institution>Lomonosov Moscow State University, Department of Economics</institution><country>Russian Federation</country></aff></aff-alternatives><pub-date pub-type="collection"><year>2016</year></pub-date><pub-date pub-type="epub"><day>20</day><month>12</month><year>2016</year></pub-date><volume>0</volume><issue>12</issue><fpage>88</fpage><lpage>103</lpage><permissions><copyright-statement>Copyright &amp;#x00A9; Voprosy Ekonomiki, NP, 2016</copyright-statement><copyright-year>2016</copyright-year><copyright-holder xml:lang="ru">Voprosy Ekonomiki, NP</copyright-holder><copyright-holder xml:lang="en">Voprosy Ekonomiki, NP</copyright-holder><license xlink:href="https://www.vopreco.ru/jour/about/submissions#copyrightNotice" xlink:type="simple"><license-p>https://www.vopreco.ru/jour/about/submissions#copyrightNotice</license-p></license></permissions><self-uri xlink:href="https://www.vopreco.ru/jour/article/view/262">https://www.vopreco.ru/jour/article/view/262</self-uri><abstract><p>В статье анализируются возможности синтеза оптимизационных моделей«новых кейнсианцев» с концепциями поведенческой экономики. Современные подходы позволяют строить макроэкономические модели, адекватные эмпирическим данным, их совокупность можно трактовать как потенциальную исследовательскую программу и будущий синтез традиционной теории и поведенческой экономики.</p></abstract><trans-abstract xml:lang="en"><p>This article overviews the existing possibilities of synthetizing New Keynesian optimization models with the research in behavioral economics. These approaches allow to build empirically adequate macroeconomic models and to expound this framework as a new research program, as a unification of traditional macroeconomic theory and behavioral economics.</p></trans-abstract><kwd-group xml:lang="ru"><kwd>рациональные ожидания</kwd><kwd>макроэкономическая теория</kwd><kwd>поведенческая экономика</kwd><kwd>новый неоклассический синтез</kwd></kwd-group><kwd-group xml:lang="en"><kwd>rational expectations</kwd><kwd>macroeconomics</kwd><kwd>behavioral economics</kwd><kwd>new neoclassical synthesis</kwd></kwd-group></article-meta></front><back><ref-list><title>References</title><ref id="cit1"><label>1</label><citation-alternatives><mixed-citation xml:lang="ru">Акерлоф Дж., Шиллер Р. (2010). Spiritus Animalis, или Как человеческая психология управляет экономикой и почему это важно для мирового капитализма. М.: Юнайтед Пресс</mixed-citation><mixed-citation xml:lang="en">Akerlof G., Shiller R. (2010). Anilmal spirits. How human psychology drives the economy, and why it matters for global capitalism. Moscow: United Press. (In Russian).</mixed-citation></citation-alternatives></ref><ref id="cit2"><label>2</label><citation-alternatives><mixed-citation xml:lang="ru">Вудфорд М. (2010). Сближение взглядов в макроэкономике: элементы нового синтеза // Вопросы экономики. № 10. C. 17-30</mixed-citation><mixed-citation xml:lang="en">Woodford М. (2010). Convergence in macroeconomics: elements of the new synthesis. Voprosy Ekonomiki, No. 10, pp. 17—30. (In Russian).</mixed-citation></citation-alternatives></ref><ref id="cit3"><label>3</label><citation-alternatives><mixed-citation xml:lang="ru">Рабин М. (2014). Интеграция ограниченной рациональности в экономическую науку // Вопросы экономики. № 5. С. 45-65</mixed-citation><mixed-citation xml:lang="en">Rabin M. (2014). Incorporating limited rationality into economics. Voprosy Ekonomiki, No. 5, pp. 45—65. (In Russian).</mixed-citation></citation-alternatives></ref><ref id="cit4"><label>4</label><citation-alternatives><mixed-citation xml:lang="ru">Харстад Р. М., Зельтен Р. (2014). Модели ограниченной рациональности: пути достижения интеллектуальной конкурентоспособности // Вопросы экономики. № 5. C. 5-26</mixed-citation><mixed-citation xml:lang="en">Harstad R. M., Selten R. (2014). Bounded-rationality models: Tasks to become intellectually competitive. Voprosy Ekonomiki, No. 5, pp. 5—26. (In Russian).</mixed-citation></citation-alternatives></ref><ref id="cit5"><label>5</label><citation-alternatives><mixed-citation xml:lang="ru">Akerlof G.A. (2002). Behavioral macroeconomics and macroeconomic behavior. American Economic Review, Vol. 92, No. 3, pp. 411-433.</mixed-citation><mixed-citation xml:lang="en">Akerlof G.A. (2002). Behavioral macroeconomics and macroeconomic behavior. American Economic Review, Vol. 92, No. 3, pp. 411-433.</mixed-citation></citation-alternatives></ref><ref id="cit6"><label>6</label><citation-alternatives><mixed-citation xml:lang="ru">Bernanke B., Gertler M. (1989). Agency costs, net worth, and business fluctuations. American Economic Review, Vol. 79, No. 1, pp. 14-31.</mixed-citation><mixed-citation xml:lang="en">Bernanke B., Gertler M. (1989). Agency costs, net worth, and business fluctuations. American Economic Review, Vol. 79, No. 1, pp. 14-31.</mixed-citation></citation-alternatives></ref><ref id="cit7"><label>7</label><citation-alternatives><mixed-citation xml:lang="ru">Bernanke B., Gertler M. (1995). Inside the black box: The credit channel of monetary policy transmission. Journal of Economic Perspectives, Vol. 9, No. 4, pp. 27-48.</mixed-citation><mixed-citation xml:lang="en">Bernanke B., Gertler M. (1995). Inside the black box: The credit channel of monetary policy transmission. Journal of Economic Perspectives, Vol. 9, No. 4, pp. 27-48.</mixed-citation></citation-alternatives></ref><ref id="cit8"><label>8</label><citation-alternatives><mixed-citation xml:lang="ru">Branch W. A., Evans G. W. (2011). Monetary policy and heterogeneous expectations. Economic Theory, Vol. 47, No. 2-3, pp. 365-393.</mixed-citation><mixed-citation xml:lang="en">Branch W. A., Evans G. W. (2011). Monetary policy and heterogeneous expectations. Economic Theory, Vol. 47, No. 2-3, pp. 365-393.</mixed-citation></citation-alternatives></ref><ref id="cit9"><label>9</label><citation-alternatives><mixed-citation xml:lang="ru">Brazier A., Harrison R., King M., Yates T. (2008). The danger of inflating expectations of macroeconomic stability: heuristic switching in an overlapping-generations monetary model. International Journal of Central Banking, Vol. 4, No. 2, pp. 219-254.</mixed-citation><mixed-citation xml:lang="en">Brazier A., Harrison R., King M., Yates T. (2008). The danger of inflating expectations of macroeconomic stability: heuristic switching in an overlapping-generations monetary model. International Journal of Central Banking, Vol. 4, No. 2, pp. 219-254.</mixed-citation></citation-alternatives></ref><ref id="cit10"><label>10</label><citation-alternatives><mixed-citation xml:lang="ru">Brock W.A., Hommes C.H. (1997). A rational route to randomness. Econometrica, Vol. 65, pp. 1059-1095.</mixed-citation><mixed-citation xml:lang="en">Brock W.A., Hommes C.H. (1997). A rational route to randomness. Econometrica, Vol. 65, pp. 1059-1095.</mixed-citation></citation-alternatives></ref><ref id="cit11"><label>11</label><citation-alternatives><mixed-citation xml:lang="ru">Caballero R.J. (2010). Macroeconomics after the crisis: Time to deal with the pretense-of-knowledge syndrome. Journal of Economic Perspectives, Vol. 24, No. 4, pp. 85-102.</mixed-citation><mixed-citation xml:lang="en">Caballero R.J. (2010). Macroeconomics after the crisis: Time to deal with the pretense-of-knowledge syndrome. Journal of Economic Perspectives, Vol. 24, No. 4, pp. 85-102.</mixed-citation></citation-alternatives></ref><ref id="cit12"><label>12</label><citation-alternatives><mixed-citation xml:lang="ru">Calvo G.A. (1983). Staggered prices in a utility-maximizing framework. Journal of Monetary Economics, Vol. 12, No. 3, pp. 383-398.</mixed-citation><mixed-citation xml:lang="en">Calvo G.A. (1983). Staggered prices in a utility-maximizing framework. Journal of Monetary Economics, Vol. 12, No. 3, pp. 383-398.</mixed-citation></citation-alternatives></ref><ref id="cit13"><label>13</label><citation-alternatives><mixed-citation xml:lang="ru">Castelnuovo E., Nisticò S. (2011). Stock market conditions and monetary policy in a DSGE model for the U.S. Journal of Economic Dynamics and Control, Vol. 34, No. 9, pp. 1700-1731.</mixed-citation><mixed-citation xml:lang="en">Castelnuovo E., Nisticò S. (2011). Stock market conditions and monetary policy in a DSGE model for the U.S. Journal of Economic Dynamics and Control, Vol. 34, No. 9, pp. 1700-1731.</mixed-citation></citation-alternatives></ref><ref id="cit14"><label>14</label><citation-alternatives><mixed-citation xml:lang="ru">Cúrdia V., Woodford M. (2009). Credit spreads and monetary policy. NBER Working Paper, No. 15289.</mixed-citation><mixed-citation xml:lang="en">Cúrdia V., Woodford M. (2009). Credit spreads and monetary policy. NBER Working Paper, No. 15289.</mixed-citation></citation-alternatives></ref><ref id="cit15"><label>15</label><citation-alternatives><mixed-citation xml:lang="ru">D’Orlando F., Sanfilippo E. (2010). Behavioral foundations for the Keynesian consumption function. Journal of Economic Psychology, Vol. 31, No. 6, pp. 1035-1046.</mixed-citation><mixed-citation xml:lang="en">D’Orlando F., Sanfilippo E. (2010). Behavioral foundations for the Keynesian consumption function. Journal of Economic Psychology, Vol. 31, No. 6, pp. 1035-1046.</mixed-citation></citation-alternatives></ref><ref id="cit16"><label>16</label><citation-alternatives><mixed-citation xml:lang="ru">De Grauwe P. (2011). Animal spirits and monetary policy. Economic Theory, Vol. 47, No. 2/3, pp. 423-457.</mixed-citation><mixed-citation xml:lang="en">De Grauwe P. (2011). Animal spirits and monetary policy. Economic Theory, Vol. 47, No. 2/3, pp. 423-457.</mixed-citation></citation-alternatives></ref><ref id="cit17"><label>17</label><citation-alternatives><mixed-citation xml:lang="ru">Galí J. (2008). Monetary policy, inflation and the business cycle: An introduction to the New Keynesian framework. Princeton, NJ: Princeton University Press.</mixed-citation><mixed-citation xml:lang="en">Galí J. (2008). Monetary policy, inflation and the business cycle: An introduction to the New Keynesian framework. Princeton, NJ: Princeton University Press.</mixed-citation></citation-alternatives></ref><ref id="cit18"><label>18</label><citation-alternatives><mixed-citation xml:lang="ru">Gaspar V., Smets F., Vestin D. (2006). Adaptive learning, persistence and optimal monetary policy. European Central Bank Working Paper Series, No. 644.</mixed-citation><mixed-citation xml:lang="en">Gaspar V., Smets F., Vestin D. (2006). Adaptive learning, persistence and optimal monetary policy. European Central Bank Working Paper Series, No. 644.</mixed-citation></citation-alternatives></ref><ref id="cit19"><label>19</label><citation-alternatives><mixed-citation xml:lang="ru">Gertler M., Kioytaki N. (2010). Financial intermediation and credit policy in business cycle analysis. In: B. M. Friedman, M. Woodford (eds.). Handbook of monetary economics, Vol. 3. Amsterdam: Elsevier, pp. 547-599.</mixed-citation><mixed-citation xml:lang="en">Gertler M., Kioytaki N. (2010). Financial intermediation and credit policy in business cycle analysis. In: B. M. Friedman, M. Woodford (eds.). Handbook of monetary economics, Vol. 3. Amsterdam: Elsevier, pp. 547-599.</mixed-citation></citation-alternatives></ref><ref id="cit20"><label>20</label><citation-alternatives><mixed-citation xml:lang="ru">Gigerenzer G., Todd P., ABC Research Group. (1999). Simple heuristics that make us smart. N. Y.: Oxford University Press.</mixed-citation><mixed-citation xml:lang="en">Gigerenzer G., Todd P., ABC Research Group. (1999). Simple heuristics that make us smart. N. Y.: Oxford University Press.</mixed-citation></citation-alternatives></ref><ref id="cit21"><label>21</label><citation-alternatives><mixed-citation xml:lang="ru">Hall R.E. (1978). Stochastic implications of the life cycle-permanent income hypothesis: theory and evidence. Journal of Political Economy, Vol. 86, No. 6, pp. 971-987.</mixed-citation><mixed-citation xml:lang="en">Hall R.E. (1978). Stochastic implications of the life cycle-permanent income hypothesis: theory and evidence. Journal of Political Economy, Vol. 86, No. 6, pp. 971-987.</mixed-citation></citation-alternatives></ref><ref id="cit22"><label>22</label><citation-alternatives><mixed-citation xml:lang="ru">Hommes C., Wagener F. (2009). Complex evolutionary systems in behavioral finance. In: T. Hens, K. R. Schenk-Hoppe (eds.). Handbook of financial markets: Dynamics and evolution. Amsterdam: Elsevier, pp. 217-276.</mixed-citation><mixed-citation xml:lang="en">Hommes C., Wagener F. (2009). Complex evolutionary systems in behavioral finance. In: T. Hens, K. R. Schenk-Hoppe (eds.). Handbook of financial markets: Dynamics and evolution. Amsterdam: Elsevier, pp. 217-276.</mixed-citation></citation-alternatives></ref><ref id="cit23"><label>23</label><citation-alternatives><mixed-citation xml:lang="ru">Krugman P. (2009). How did economists get it so wrong? New York Times. September 2.</mixed-citation><mixed-citation xml:lang="en">Krugman P. (2009). How did economists get it so wrong? New York Times. September 2.</mixed-citation></citation-alternatives></ref><ref id="cit24"><label>24</label><citation-alternatives><mixed-citation xml:lang="ru">Lengnick M., Wohltmann H.-W. (2013). Agent-based financial markets and new Keynesian macroeconomics: A synthesis. Journal of Economic Interaction and Coordination, Vol. 8, No. 1, pp. 1-32.</mixed-citation><mixed-citation xml:lang="en">Lengnick M., Wohltmann H.-W. (2013). Agent-based financial markets and new Keynesian macroeconomics: A synthesis. Journal of Economic Interaction and Coordination, Vol. 8, No. 1, pp. 1-32.</mixed-citation></citation-alternatives></ref><ref id="cit25"><label>25</label><citation-alternatives><mixed-citation xml:lang="ru">Menz J.-O. (2008). Behavioral macroeconomics and the new Keynesian model. DEP Discussion Papers, Macroeconomics and Finance Series, Vol. 4. Universität Hamburg.</mixed-citation><mixed-citation xml:lang="en">Menz J.-O. (2008). Behavioral macroeconomics and the new Keynesian model. DEP Discussion Papers, Macroeconomics and Finance Series, Vol. 4. Universität Hamburg.</mixed-citation></citation-alternatives></ref><ref id="cit26"><label>26</label><citation-alternatives><mixed-citation xml:lang="ru">Pingle M. (2006). Deliberation costs as a foundation for behavioral economics. In: M. Altman (ed.). Handbook of contemporary behavioral economics. Armonk, NY: M. E. Sharpe.</mixed-citation><mixed-citation xml:lang="en">Pingle M. (2006). Deliberation costs as a foundation for behavioral economics. In: M. Altman (ed.). Handbook of contemporary behavioral economics. Armonk, NY: M. E. Sharpe.</mixed-citation></citation-alternatives></ref><ref id="cit27"><label>27</label><citation-alternatives><mixed-citation xml:lang="ru">Prelec D., Loewenstein G. (1998). The red and the black: mental accounting of saving and debt. Marketing Science, Vol. 17, No. 1, pp. 4-28.</mixed-citation><mixed-citation xml:lang="en">Prelec D., Loewenstein G. (1998). The red and the black: mental accounting of saving and debt. Marketing Science, Vol. 17, No. 1, pp. 4-28.</mixed-citation></citation-alternatives></ref><ref id="cit28"><label>28</label><citation-alternatives><mixed-citation xml:lang="ru">Rubinstein A. (2003). “Economics and psychology?” The case of hyperbolic discounting. International Economic Review, Vol. 4, No. 44, pp. 1207-1216.</mixed-citation><mixed-citation xml:lang="en">Rubinstein A. (2003). “Economics and psychology?” The case of hyperbolic discounting. International Economic Review, Vol. 4, No. 44, pp. 1207-1216.</mixed-citation></citation-alternatives></ref><ref id="cit29"><label>29</label><citation-alternatives><mixed-citation xml:lang="ru">Samuelson P. (1955). Economics. 3rd ed. N. Y.: McGraw-Hill.</mixed-citation><mixed-citation xml:lang="en">Samuelson P. (1955). Economics. 3rd ed. N. Y.: McGraw-Hill.</mixed-citation></citation-alternatives></ref><ref id="cit30"><label>30</label><citation-alternatives><mixed-citation xml:lang="ru">Самуэльсон П. (1964). Экономика. Вводный курс. М.: Экономика.</mixed-citation><mixed-citation xml:lang="en">Самуэльсон П. (1964). Экономика. Вводный курс. М.: Экономика.</mixed-citation></citation-alternatives></ref><ref id="cit31"><label>31</label><citation-alternatives><mixed-citation xml:lang="ru">Scheffknecht L., Geiger F. (2011). A behavioral macroeconomic model with endogenous boom-bust cycles and leverage dynamics. FZID Discussion Papers, No. 37-2011.</mixed-citation><mixed-citation xml:lang="en">Scheffknecht L., Geiger F. (2011). A behavioral macroeconomic model with endogenous boom-bust cycles and leverage dynamics. FZID Discussion Papers, No. 37-2011.</mixed-citation></citation-alternatives></ref><ref id="cit32"><label>32</label><citation-alternatives><mixed-citation xml:lang="ru">Taylor J. (1993). Discretion versus policy rules in practice. Carnegie-Rochester Conference Series on Public Policy, Vol. 39, December, pp. 195-214.</mixed-citation><mixed-citation xml:lang="en">Taylor J. (1993). Discretion versus policy rules in practice. Carnegie-Rochester Conference Series on Public Policy, Vol. 39, December, pp. 195-214.</mixed-citation></citation-alternatives></ref><ref id="cit33"><label>33</label><citation-alternatives><mixed-citation xml:lang="ru">Thaler R., Tversky A., Kahneman D., Schwartz A. (1997). The effect of myopia and loss aversion on risk taking: An experimental test. Quarterly Journal of Economics, Vol. 112, No. 2, pp. 647-661.</mixed-citation><mixed-citation xml:lang="en">Thaler R., Tversky A., Kahneman D., Schwartz A. (1997). The effect of myopia and loss aversion on risk taking: An experimental test. Quarterly Journal of Economics, Vol. 112, No. 2, pp. 647-661.</mixed-citation></citation-alternatives></ref><ref id="cit34"><label>34</label><citation-alternatives><mixed-citation xml:lang="ru">Westerhoff F. H. (2008). The use of agent-based financial market models to test the effectiveness of regulatory policies. Jahrbücher für Nationalökonomie und Statistik, Vol. 228, No. 2-3, pp. 195-227.</mixed-citation><mixed-citation xml:lang="en">Westerhoff F. H. (2008). The use of agent-based financial market models to test the effectiveness of regulatory policies. Jahrbücher für Nationalökonomie und Statistik, Vol. 228, No. 2-3, pp. 195-227.</mixed-citation></citation-alternatives></ref></ref-list><fn-group><fn fn-type="conflict"><p>The authors declare that there are no conflicts of interest present.</p></fn></fn-group></back></article>
