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The Foundations of Money Illusion in a Neoclassical Micro-Monetary Model: Reply.

The article presents the author's views on the foundations of money illusion in a neoclassical micro-monetary model. The analysis of money illusions, as suggested by two economists Robert Clower and John Riley, rests entirely on the claims that the assumption of degree zero homogeneity (in the varia...

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Published in:American Economic Review Vol. 66; no. 1; pp. 192 - 196
Main Authors: Dusansky, Richard, Kalman, Peter J.
Format: Article
Published: American Economic Association Mar1976
Subjects:
Money illusion
Economic demand
Neoclassical school of economics
Utility functions
Clower, Robert
Elasticity (Economics)
Riley, John
Supply & demand
Budget
Online Access:View this record in EBSCOhost