The Notion of Money Illusion and Its Development in Economics

Informace o vysokoškolské kvalifikační práci

Název práce:
The Notion of Money Illusion and Its Development in Economics
Autor práce:
Košková, Dominika
Typ práce:
Diplomová práce / info:eu-repo/semantics/masterThesis
Vedoucí práce:
Potužák, Pavel
Osoba oponující práci:
Mirvald, Michal
Jazyk práce:
English
Abstrakt:
This thesis maps development of money illusion through the history of economic thought and analyzes relevance of the concept in these days. The story begins in 1928 with Irving Fisher, who saw money illusion as a failure to perceive changes in purchasing power of money. Different notion was developed by John Maynard Keynes when he proposed a non-homogeneous labor supply. In the 1970s, the success of rational expectations theory led to a dismissal of the original theories of money illusion and Tobin's critique revealed also an inconsistency of the Keynesian notion. Since then, money illusion lost its position in the mainstream economic science. The modern theories were, however, able to align money illusion with rational expectations and provided the phenomenon with a psychological framework. Money illusion became described as a tendency to think in nominal rather than real terms. While the concept was revived as a part of behavioral and New Keynesian economics, the question of its aggregate effects remains as the Keynes' inconsistency have not been resolved until these days.
Klíčová slova:
Inflation Expectations; Non-neutrality of Money; Phillips curve; History of Economic Thought; Money Illusion

Informace o studiu

Studijní program a Studijní obor:
Ekonomie a hospodářská správa/Ekonomická analýza
Typ studijního programu:
Magisterský navazující studijní program
Jméno přidělované hodnosti:
Ing.
Instituce přidělující hodnost:
University of Economics, Prague
Název fakulty:
Faculty of Economics
Název katedry:
Department of Economics
Instituce archivující a zpřístupňující VŠKP:
University of Economics, Prague

Informace o odevzdání a obhajobě

Datum zadání práce:
16. 2. 2014
Datum podání práce:
23. 5. 2014
Datum obhajoby:
05.02.2015

Soubory ke stažení

Hlavní práce:
46433_xkosd15.pdf [758,69 kB]
Oponentura:
39994_mirvald.pdf [400,19 kB]
Hodnocení vedoucího:
46433_potp01.pdf [96,83 kB]

Údaje ze systému InSIS

Identifikátor:
https://insis.vse.cz/zp/46433/podrobnosti