Does Money Illusion Matter？（货币幻觉重要吗？英文）

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Does Money Illusion Matter__ Reply-AER-201403.pdf (508.28 KB, 需要: 1 个论坛币)

2014-6-25 17:25:09 上传

货币幻觉重要吗？——回应（英文）
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Does Money Illusion Matter__ Comment-AER-201403.pdf (579.41 KB, 需要: 1 个论坛币)

2014-6-25 17:24:10 上传

货币幻觉重要吗？——评论（英文）
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American Economic Review 上的三篇论文，正式发表版本。

原文摘要: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.
Abstract of “Does Money Illusion Matter？：Comment”
This paper experimentally investigates whether money illusion generates
substantial nominal inertia. Building on the design of Fehr
and Tyran (2001), we find no evidence that agents choose high nominal
payoffs over high real payoffs. However, participants do select
prices associated with high nominal payoffs within a set of maximum
real payoffs as a heuristic to simplify their decision task. The cognitive
challenge of this task explains the majority of the magnitude of
nominal inertia; money illusion exerts only a second-order effect.
The duration of nominal inertia depends primarily on participants’
best response functions, not the prevalence of money illusion。


Abstract of “Does Money Illusion Matter？：Reply”
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.
Does Money Illusion Matter？-AER-200112.pdf (4.04 MB, 需要: 5 个论坛币)

2014-6-25 23:11:09 上传

货币幻觉重要吗？（英文原文）
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关键词：Illusion Matter money Does Mat 英文 Illusion illusion evidence whether

Zitsing 发表于 2014-6-25 17:30
American Economic Review 2014年第3期上的两篇论文，正式出版的。

Abstract of “Does Money Illusio ...

心理学？经济学？

Fehr and Tyran (2001)?

songlinjl 发表于 2014-6-25 18:09
心理学？经济学？

提出这种问题，就足以说明你是个经济学的门外汉。“货币幻觉”耶！哥哥！这个简单的专业术语居然都不知道？！

onrush 发表于 2014-6-25 18:20
Fehr and Tyran (2001)?

请认真阅读摘要！又是一个不懂学术的孩纸啊！

Zitsing 发表于 2014-6-25 19:22
请认真阅读摘要！又是一个不懂学术的孩纸啊！

受教了！
你不贴Fehr and Tyran (2001)的原文，只贴评论和答复？！

onrush 发表于 2014-6-25 21:43
受教了！
你不贴Fehr and Tyran (2001)的原文，只贴评论和答复？！

那好吧，我把原文加上。

货币幻觉经济学上不是研究过了吗当然重要

谢谢楼主分享