Microeconomic Foundations for Macroeconomic Structure
The models used in economic theory, though necessarily abstract, should be consistent with the nature of decision making behavior. A formal metaphor of individual behavior as a continuous flow indicates certain requirements that theories of consumer, producer, and economywide behavior should exhibit. A family of discrete time, recursive optimizing models is suggested as the appropriate building block for further developing dynamic economic theory.
Year of publication: |
2005-11
|
---|---|
Authors: | Day, Richard |
Institutions: | Volkswirtschaft Abteilung, Fachbereich Wirtschaftswissenschaften |
Saved in:
freely available
Saved in favorites
Similar items by person
-
Neo-classical growth and complex dynamics : a note on Day's (1982) model
Dufrénot, Gilles, (1998)
-
Toward a dynamical economic science : an autobiographical reflection
Day, Richard Hollis, (1999)
-
Microeconomic foundations for macroeconomic structure
Day, Richard, (2005)
- More ...