Money, Coordination and Prices (Elgar Monographs)

"Money, Coordination and Prices" explains the phenomena of nominal price rigidity as a characteristic of a monetary economy by means of an innovative combination of insights, using several strands of economic thought, to analyze the monetary economy. The work connects neoclassical and New Keynesian explanations of the use of money and nominal price rigidity and provides heterodox analyses of the two phenomena. The author integrates the mainstream approach with views from institutional and evolutionary economics, as well as post-Keynesian economics. Analyses include: theories of money and nominal price stickiness; conventions and institutions in coordination problems; trust in a monetary economy; the stability of the monetary economy; and the monetary economy as an open self-organizing system. This book should appeal to institutional, monetary, post-Keynesian and neoclassical/mainstream economists and academics alike.