Searching for Money Illusion in Europe

Alberto Montagnoli () and Andrea Vaona

No 10/2015, Working Papers from University of Verona, Department of Economics

Abstract: We apply recent money illusion tests on data on individual life satisfaction from the Eurobarometer for the period 1980–2003. The null hypothesis of no money illusion cannot be rejected. Different nominal rigidities across European countries and EMU countries, specifically, cannot be explained by different degrees of money illusion.

Keywords: cost of living; subjective well-being; price index; money illusion (search for similar items in EconPapers)
JEL-codes: C23 D12 D31 D60 I31 (search for similar items in EconPapers)
Date: 2015-03
New Economics Papers: this item is included in nep-eec, nep-hap and nep-mon
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