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Charity Donations and the Euro Introduction: Some Quasi-Experimental Evidence on Money Illusion

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Author Info

  • Kooreman, Peter

    ()
    (Tilburg University)

  • Faber, Riemer

    ()
    (CPB Netherlands Bureau for Economic Policy Analysis)

  • Hofmans, Heleen

    (University of Groningen)

Abstract

We compare the revenues of a house-to-house collection for a charity before and after the introduction of the euro in a ceteris paribus setting. We find strong evidence of money illusion, supplementing earlier econometric, experimental, and survey evidence on its existence.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 1318.

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Length: 7 pages
Date of creation: Sep 2004
Date of revision:
Publication status: published in: Journal of Money, Credit, and Banking, 2004, 36 (6), 1121-1124
Handle: RePEc:iza:izadps:dp1318

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Related research

Keywords: behavioral economics; quasi-experiment; money illusion;

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References

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  1. Shafir, Eldar & Diamond, Peter & Tversky, Amos, 1997. "Money Illusion," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 341-74, May.
  2. Ernst Fehr & Jean-Robert Tyran, 2000. "Does Money Illusion Matter?," IEW - Working Papers 045, Institute for Empirical Research in Economics - University of Zurich.
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Citations

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Cited by:
  1. Thomas A. Stephens & Jean-Robert Tyran, 2012. "“At least I didn’t lose money” - Nominal Loss Aversion Shapes Evaluations of Housing Transactions," Discussion Papers 12-14, University of Copenhagen. Department of Economics.
  2. Peter Kooreman & Henriëtte Prast, 2010. "What Does Behavioral Economics Mean for Policy? Challenges to Savings and Health Policies in the Netherlands," De Economist, Springer, vol. 158(2), pages 101-122, June.
  3. Blumkin, Tomer & Ruffle, Bradley & Ganun, Yosef, 2010. "Are Income and Consumption Taxes Ever Really Equivalent? Evidence from a Real-Effort Experiment with Real Goods," IZA Discussion Papers 5145, Institute for the Study of Labor (IZA).
  4. Ernst Fehr & Jean-Robert Tyran, 2005. "Individual Irrationality and Aggregate Outcomes," Discussion Papers 05-09, University of Copenhagen. Department of Economics.
  5. repec:ebl:ecbull:v:1:y:2008:i:3:p:1-9 is not listed on IDEAS
  6. Ehrmann, Michael, 2006. "Rational inattention, inflation developments and perceptions after the euro cash changeover," Working Paper Series 0588, European Central Bank.
  7. Michael Ehrmann, 2011. "Inflation Developments and Perceptions after the Euro Cash Changeover," German Economic Review, Verein für Socialpolitik, vol. 12(1), pages 33-58, 02.
  8. Sotiris Vandoros, 2013. "My five pounds are not as good as yours, so I will spend them," Experimental Economics, Springer, vol. 16(4), pages 546-559, December.
  9. Stix, Helmut, 2009. "Perceived inflation and the euro: Evidence from an Austrian survey," European Journal of Political Economy, Elsevier, vol. 25(4), pages 547-561, December.
  10. Thomas A. Eife, 2006. "Price setting behaviour and price setting regulations at the euro changeover," Bank of Estonia Working Papers 2006-06, Bank of Estonia, revised 12 Oct 2006.
  11. Giam Pietro Cipriani & Angelo Zago & Diego Lubian, 2008. "Money Illusion: Are Economists Different?," Economics Bulletin, AccessEcon, vol. 1(3), pages 1-9.
  12. Charles N. Noussair & Gregers Richter & Jean-Robert Tyran, 2008. "Money Illusion and Nominal Inertia in Experimental Asset Markets," Discussion Papers 08-29, University of Copenhagen. Department of Economics.

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