Does Macroeconomics Need Microeconomic Foundations?

Da Silva, Sergio

doi:10.5018/economics-ejournal.ja.2009-23

Abstract

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Does Macroeconomics Need Microeconomic Foundations?

Sergio Da Silva

affiliation not provided to SSRN

2009

Economics: The Open-Access, Open-Assessment E-Journal, Vol. 3, 2009-23

Abstract:
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. --

Number of Pages in PDF File: 14

Keywords: Microfoundations, neuroeconomics, econophysics

JEL Classification: B22, B41, C82, D87

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Date posted: December 18, 2010

Suggested Citation

Da Silva, Sergio, Does Macroeconomics Need Microeconomic Foundations? (2009). Economics: The Open-Access, Open-Assessment E-Journal, Vol. 3, 2009-23. Available at SSRN: http://ssrn.com/abstract=1726853 or http://dx.doi.org/10.5018/economics-ejournal.ja.2009-23

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Sergio Da Silva (Contact Author)

affiliation not provided to SSRN ( email )