Microfoundations
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A01=Maarten Janssen
ADM.
aggregate
Aggregate Dependent Variable
Aggregate Excess Demand Functions
Aggregate Relationships
Author_Maarten Janssen
Category=KCA
Category=KCB
Category=KCC
Competitive Equilibrium
Competitive Equilibrium Allocations
Efficiency Wage Model
Endogenous Un-certainty
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
equilibrium
Equilibrium Notion
excess
hypothesis
Individual Demand Functions
Individualistic Foundations
macro
Mainstream Macroeconomics
micro-to
Micro-to Macro Transition
Microfoundations Literature
nash
Nash Equilibrium
olson's
Olson's Hypothesis
Rational Expectations
Rational Expectations Hypothesis
Rational Expectations Solution
Rational Individual Behaviour
Reaction Curves
Real Business Cycle
Real Business Cycle Models
Reduction Scheme
relationship
Strategic Market Games
transition
Product details
- ISBN 9780415756051
- Weight: 249g
- Dimensions: 138 x 216mm
- Publication Date: 25 Mar 2014
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Paperback
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All economists are familiar with the division of the subject into microeconomics and macroeconomics. However, few economists are able to give an accurate account of what distinguishes micro and macro. The increasing interest in the `microfoundations of macroeconomics' has typically attracted those who feel that economics is about the rational behaviour of individuals and who regard macro propositions as a consequence of the intentions of individuals. As a result, `microfoundations' have come to be synonymous with theories of individual behaviour. However, Maarten Janssen argues that it is microeconomics' concern with the functioning of markets that underlies theories of microfoundations. This claim is substantiated by an analysis of the aggregation problem, of the foundations of equilibrium theories, of the rational expectations hypothesis, and of a model from the New Keynesian literature.
