Does Money Illusion Matter?: Reply
成果类型：
Article
署名作者：
Fehr, Ernst; Tyran, Jean-Robert
署名单位：
University of Zurich; University of Vienna; University of Copenhagen
刊物名称：
AMERICAN ECONOMIC REVIEW
ISSN/ISSBN：
0002-8282
DOI：
10.1257/aer.104.3.1063
发表日期：
2014
页码：
1063-1071
关键词：
摘要：
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.
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