Who wants price stability?
The paper uses the "subjective well-being as input" framework to examine how life satisfaction and other life circumstances might affect the consideration of price stability. Results show that people who experience negative or adverse situations are more likely to attend to negative matters like rising prices, which implies price instability; those who experience positive or favorable situations are likely to worry less about price stability.
|Date of creation:||21 May 2012|
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- DiTella, Rafael & MacCulloch, Robert & Oswald, Andrew J., 2001.
"Preferences over inflation and unemployment: Evidence from surveys of happiness,"
ZEI Working Papers
B 03-2001, ZEI - Center for European Integration Studies, University of Bonn.
- Robert J. MacCulloch & Rafael Di Tella & Andrew J. Oswald, 2001. "Preferences over Inflation and Unemployment: Evidence from Surveys of Happiness," American Economic Review, American Economic Association, vol. 91(1), pages 335-341, March.
- Kahneman, Daniel & Wakker, Peter P & Sarin, Rakesh, 1997. "Back to Bentham? Explorations of Experienced Utility," The Quarterly Journal of Economics, MIT Press, vol. 112(2), pages 375-405, May.
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