macro theory does not ensure sound foundations and the microfoundations project makes little sense. It follows that the …The appeal of the microfoundations project in economics is strongly supported by the considerable force of the … discipline's "hard core" (in Lakatos' sense). This is especially the case, if the microfoundations metaphor is seen as a way of …

We derive the backward-looking Keynesian wage-price spiral from micro-foundations. The optimal price Phillips curve … model fits the data well. In general, nominal wages are more flexible than prices with respect to demand pressure. The … baseline model rejects the inclusion of supply shocks and indexation of wages in developed economies and some emerging markets. …

We derive the backward-looking Keynesian wage-price spiral from micro-foundations. The optimal price Phillips curve … model fits the data well. In general, nominal wages are more flexible than prices with respect to demand pressure. The … baseline model rejects the inclusion of supply shocks and indexation of wages in developed economies and some emerging markets. …

“Continuation theory”. In fixing its building blocks, he was primed to allow for equilibrium assumptions as far as a vantage point …