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distinction was drawn quite independently of Keynes, yet Keynes's General Theory led to its widespread adoption. The question of … microfoundations was not raised for the first time in the 1960s or ‘70s, as is sometimes thought, but goes back to the very foundations … directly in Keynes's own theorizing in the General Theory; a fixed-price general-equilibrium theory, which includes some work …
Persistent link: https://www.econbiz.de/10013147164
This paper gives an overview and evaluates the literature on Microfoundations …
Persistent link: https://www.econbiz.de/10014058434
straightjacket of optimizing microfoundations, the approach can provide a useful starting point for the analysis of dynamic …
Persistent link: https://www.econbiz.de/10011527443
, namely the disequilibrium theory (more properly, the non-Walrasian approach) and the practice of large-scale macroeconomic … search for microfoundations he promoted did not aim at reconsidering the autonomy of Macro. It was instead subject to the …
Persistent link: https://www.econbiz.de/10013292178
I argue that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics. --
Persistent link: https://www.econbiz.de/10013132110
The author argues that it is microeconomics that needs foundations, not macroeconomics. Preferences need to be built on biology, and, in particular, on neuroscience. In contrast, macroeconomics could benefit from rationalizations of aggregate economic phenomena by non-equilibrium statistical physics
Persistent link: https://www.econbiz.de/10013135079
phenomena by non-equilibrium statistical physics. -- Microfoundations ; neuroeconomics ; econophysics …
Persistent link: https://www.econbiz.de/10003843048
In der Makroökonomik werden Liquiditätsfallen ohne Mikrofundierung als existent angenommen und die Japan-Krise hat … Wertpapierfalle. -- Liquiditätsfalle ; Geldnachfrage ; Keynesianische Makro-Modelle ; Mikrofundierung der Makroökonomik …
Persistent link: https://www.econbiz.de/10009491055
This paper gives an overview and evaluates the literature on Microfoundations. …
Persistent link: https://www.econbiz.de/10011349210
Persistent link: https://www.econbiz.de/10000887006