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This argues that it is really microeconomics' concern with the functioning of markets that underlies the theories which attempt to provide macroeconomics with microfoundations.
This book investigates the theoretical link between microeconomic market functions and macroeconomic models, specifically questioning how micro-level behavior justifies aggregate economic outcomes. The author, Maarten C.W. Janssen, utilizes his background in economic theory to critique existing attempts to provide macroeconomics with microfoundations. He argues that the focus should shift toward the internal mechanics of market functioning rather than simple aggregation of individual agent behavior. The text provides a rigorous analytical framework for understanding the disconnect between these two primary branches of economic study.
What You Will Find
Experts recognize this text as a specialized contribution to the debate on economic methodology and the integration of micro-macro theories. Readers frequently note the high level of academic density and the technical rigor required to follow the author's arguments.
Page Count:
0
Publication Date:
1993-01-01
Publisher:
Routledge
ISBN-10:
0203978536
ISBN-13:
9780203978535
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