9783540658719 - Money Illusion and Strategic Complementarity as Causes of Monetary Non-Neutrality (Lecture Notes in Economics and Mathematical Systems, 472, Band 472) von Tyran, Je... (5 Ergebnisse)

Zustand: New. In.

Paperback. Zustand: Brand New. 228 pages. 9.50x6.25x0.50 inches. In Stock.

Softcover. 228 S. Ehem. Bibliotheksexemplar mit Signatur und Stempel. GUTER Zustand, ein paar Gebrauchsspuren. Ex-library with stamp and library-signature. GOOD condition, some traces of use. L07850 9783540658719 Sprache: Englisch Gewicht in Gramm: 380.

Taschenbuch. Zustand: Neu. Druck auf Anfrage Neuware - Printed after ordering - In principle, money illusion could explain the inertial adjustment of prices after changes of monetary policy. Hence, money illusion could provide an explanation of monetary non-neutrality. However, this explanation has been thoroughly discredited in modern economics. As a consequence, economists have ever since the 1970s searched for alternative explanations for nominal rigidity. These explanations are all based on the assumption of fully rational economic agents, holding rational expectations. This book argues that money illusion has been prematurely dismissed as an explanation of monetary non-neutrality. Methods of experimental economics are used to investigate the real aggregate effects of money illusion. It is shown that money illusion in fact causes (short-run) real income effects if strategic complementarity prevails. Strategic complementarity is an important characteristic of naturally occurring macroeconomies and is a recurrent theme in most models explaining nominal rigidity.

Taschenbuch. Zustand: Neu. Money Illusion and Strategic Complementarity as Causes of Monetary Non-Neutrality | Jean-Robert Tyran | Taschenbuch | Lecture Notes in Economics and Mathematical Systems | x | Englisch | 1999 | Springer | EAN 9783540658719 | Verantwortliche Person für die EU: Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg, juergen[dot]hartmann[at]springer[dot]com | Anbieter: preigu.