A Behavioral New Keynesian Model

Xavier Gabaix

NBER Working Paper No. 22954
Issued in December 2016, Revised in June 2019

---- Acknowledgments ----

I thank Igor Cesarec, Vu Chau, Antonio Coppola, Wu Di, James Graham and Lingxuan Wu for excellent research assistance. For useful comments I thank the editor and referees, Marios Angeletos, Adrien Auclert, Larry Ball, Olivier Blanchard, Jeff Campbell, Larry Christiano, John Cochrane, Tim Cogley, Gauti Eggertsson, Emmanuel Farhi, Roger Farmer, Jordi Galí, Mark Gertler, Narayana Kocherlakota, Greg Mankiw, Knut Mork, Ricardo Reis, Dongho Song, Jim Stock, Michael Woodford, and participants at various seminars and conferences. I am grateful to the CGEB, the Institute for New Economic Thinking, the NSF (SES-1325181) and the Sloan Foundation for financial support. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

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