The American economic review, 2001-12, Vol.91 (5), p.1239-1262
2001
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Details
- Autor(en) / Beteiligte
- Titel
- Does Money Illusion Matter?
- Ist Teil von
- The American economic review, 2001-12, Vol.91 (5), p.1239-1262
- Ort / Verlag
- Nashville: American Economic Association
- Erscheinungsjahr
- 2001
- Quelle
- Business Source Ultimate
- Beschreibungen/Notizen
- This paper shows that a small amount of individual-level money illusion may cause considerable aggregate nominal inertia after a negative nominal shock. In addition, our results indicate that negative and positive nominal shocks have asymmetric effects because of money illusion. While nominal inertia is quite substantial and long lasting after a negative shock, it is rather small after a positive shock.
- Sprache
- Englisch
- Identifikatoren
- ISSN: 0002-8282eISSN: 1944-7981DOI: 10.1257/aer.91.5.1239Titel-ID: cdi_proquest_miscellaneous_38357613
- Format
- –
- Schlagworte
- Average prices, Economic models, Economic shock, Equilibrium, Equilibrium prices, Experiments, Inertia, Market adjustment, Monetary economics, Monetary theory, Money, Money illusion, Negative price shocks, Nominal prices, Payoffs, Positive price shocks, Price level changes, Price shocks, Prices, Real income, Statistical analysis, Studies, Value, Wages & salaries