Money Illusion and Strategic Complementarity as Causes of Monetary Non-Neutrality

This book is more scientific, but very interesting if you like to dig more into the depth of money illusion backed by its experimental investigation.

The old concept of money illusion is updated and transformed into its modern version, which is built on the principle of strategic complementarity. In this case, even a negligible individual money illusion suffered by only few agents might multiply effects of money illusion at the aggregate level due to a well-known mainstream concept called coordination failure. Modern money illusion might be responsible for substantial effects at the aggregate level.

For me, this book is very… show more.