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Who wants price stability?

Author

Listed:
  • Beja, Edsel Jr.

Abstract

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.

Suggested Citation

  • Beja, Edsel Jr., 2012. "Who wants price stability?," MPRA Paper 38928, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:38928
    as

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    File URL: https://mpra.ub.uni-muenchen.de/38928/1/MPRA_paper_38928.pdf
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    References listed on IDEAS

    as
    1. 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.
    2. Daniel Kahneman & Peter P. Wakker & Rakesh Sarin, 1997. "Back to Bentham? Explorations of Experienced Utility," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 112(2), pages 375-406.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Price stability; preference; subjective well-being;
    All these keywords.

    JEL classification:

    • I31 - Health, Education, and Welfare - - Welfare, Well-Being, and Poverty - - - General Welfare, Well-Being
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E60 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - General

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