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Money Illusion and Strategic Complementarity as Causes of Monetary Non-Neutrality
Approaches to the Problem of Monetary Empirical Evidence on the Non-Neutrality of Money from Macroeconomic Data.- Theories of Nominal Rigidity and Monetary Non-Neutrality.- Money Illusion.- Why Can Money Illusion and Strategic Complementarity Cause Monetary Non-Neutrality?.- Summary of Part I and Hypotheses.- Experimental Are Experiments in Macroeconomics Possible?.- Experimental Design to Isolate Causes of Monetary Non-Neutrality.- Results of Experimental Non-Neutrality with Strategic Complementarity.- Does Money Illusion Matter?.- The Effects of Strategic Complements and Strategic Substitutes.- Summary of Results.- Discussion of Empirical Relevance of Results.- Implications for Economic Theory and Policy.
244 pages, Paperback
First published July 15, 1999
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