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612-822-4611
Microfoundations: The Compatibility of Microeconomics and Macroeconomics

Microfoundations: The Compatibility of Microeconomics and Macroeconomics

Paperback

Series: Cambridge Surveys of Economic Literature

Economics

ISBN10: 0521294452
ISBN13: 9780521294454
Publisher: Cambridge University Press
Published: Feb 28 1979
Pages: 184
Weight: 0.53
Height: 0.47 Width: 5.56 Depth: 8.50
Language: English
This is the first full-length survey of current work which examines the compatibility of microeconomics and macroeconomics. Its particular distinction is that it makes accessible, to non-specialists, those extensive modern refinements of general equilibrium theory which are linked to macroeconomics and monetary theory. Part I traces the development and interlocking nature of two scientific research prgrams, macroeconomics and neo-Walrasian analysis. The five chapters in this part examine general equilibrium theory, Keynes' contribution, the 'neoclassical synthesis', and the Clower-Leijonhufvud contributions to questions of systemic coordination. The four chapters of Part II place recent work on the micro-foundations of macroeconomics within a taxonomic scheme of Walrasian equilibrium, Walrasian disequilibrium, Edgeworthian equilibrium, and Edgeworthian disequilibrium. Part III, a single chapter, provides an overview of the subject and ventures some conclusions.

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Economics