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0 reviewsEmphasizing money’s fundamental role in lubricating exchanges and promoting economic coordination, Alan Rabin argues that when the lubricant goes awry, so do the processes being lubricated. Monetary disequilibrium can have repercussions that last months and even years.
The book presents the author’s interpretation of Yeager’s enormous contributions to monetary theory, especially his development of monetary-disequilibrium theory, while also building on the contributions of Patinkin, Clower, Leijonhufvud, Barro and Grossman, and Laidler .
A unique hybrid of treatise and graduate text, Monetary Theory fills a tremendous void in the current literature and will be of interest to scholars and students of monetary theory and economic thought.
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