Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/76215
Authors: 
Boes, Stefan
Lipp, Markus
Winkelmann, Rainer
Year of Publication: 
2005
Series/Report no.: 
Working Paper, Socioeconomic Institute, University of Zurich 0514
Abstract: 
Much progress has been made in recent years in developing and applying a direct measure of utility using survey questions on satisfaction with income and with life in general. In this paper we apply this new type of measurement to the study of money illusion. Using data from the German Socio-Economic Panel for the years 1993 to 2003, we cannot reject the hypothesis of no money illusion.
Subjects: 
cost-of-living
subjective well-being
fixed effect
JEL: 
I31
D12
Document Type: 
Working Paper

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