Эксоцман
на главную поиск contacts

Veblen effect, the marginal utility of money and money illusion

русская версия

Опубликовано на портале: 11-11-2013
The paper discovers microeconomic mechanism of Veblen effect as well as of Giffen case as results of the negative marginal utility of money. The marginal utility of consumption also becomes negative. The total consumption-leisure utility is increased due to the increase in leisure time. This overall effect results in the phenomenon of money illusion on the macroeconomic level. This general effect has deep historical and institutional grounds and, in order to minimize its disequilibrium economic consequences it needs more specific institutional regulation.
PDF Document
сохранить
[1.93 МБ]
BiBTeX
RIS
Ключевые слова

См. также:
Valerie Cerra, Sweta C. Saxena
IMF Working Paper Series. 2002.  No. 02/200 .
[Статья]
Hirofumi Uzawa
Review of Economic Studies. 1962.  Vol. 29. No. 4. P. 291-299 . 
[Статья]
Kristy Kuches, Ulrich C. Toensmeyer, Carl L. German, James R. Bacon
Journal of Food Distribution Research. 1999.  Vol. 30. No. 1. P. 124-133. 
[Статья]
Michael E. Salassi
Journal of Agricultural and Applied Economics. 1995.  Vol. 27. No. 2. P. 386-399. 
[Статья]
Jung-Hee Lee, B. Wade Brorsen
Journal of Agricultural and Applied Economics. 1994.  Vol. 26. No. 2. P. 386-392. 
[Статья]