Does Money Illusion Matter?: Reply<xref ref-type="fn" rid="f1" ptype="faer10431063" citart="citart1"><sup></sup></xref>
نویسنده
چکیده
The data in Fehr and Tyran (2001) and Petersen and Winn (2014) show that money illusion plays an important role in nominal price adjustment after a fully anticipated negative monetary shock. Money illusion affects subjects’ expectations, and causes pronounced nominal inertia after a negative shock but much less inertia after a positive shock. Thus Petersen and Winn (2014) provide a misleading interpretation of both our and their own data. (JEL C92, D83, D84, E31, E32, E52)
منابع مشابه
Affect as a Decision-Making System of the Present<xref ref-type="fn" rid="fn1" ptype="f668644" citart="citart1" /><xref ref-type="fn" rid="fn2" ptype="f668644" citart="citart1" />
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. .
متن کاملFinancial Deprivation Prompts Consumers to Seek Scarce Goods<xref ref-type="fn" rid="fn1" ptype="f664038" citart="citart1" /><xref ref-type="fn" rid="fn2" ptype="f664038" citart="citart1" />
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected].
متن کاملYou Get What You Pay For? Self-Construal Influences Price-Quality Judgments<xref ref-type="fn" rid="fn1" ptype="f670034" citart="citart1" /><xref ref-type="fn" rid="fn2" ptype="f670034" citart="citart1" />
متن کامل
Coalition Formation in a Legislative Voting Game<xref ref-type="fn" rid="f1" ptype="fmic61182" citart="citart1"><sup></sup></xref>
We experimentally investigate the Jackson and Moselle (2002) model where legislators bargain over policy proposals and the allocation of private goods. Key comparative static predictions of the model hold with the introduction of private goods, including “strange bedfellow” coalitions. Private goods help to secure legislative compromise and increase the likelihood of proposals passing, an outco...
متن کاملFeeling Like My Self: Emotion Profiles and Social Identity<xref ref-type="fn" rid="fn1" ptype="f669483" citart="citart1" /><xref ref-type="fn" rid="fn2" ptype="f669483" citart="citart1" />
JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact [email protected]. .
متن کامل