Does Macroeconomics Need Microeconomic Foundations?
Sergio Da Silva
affiliation not provided to SSRN
Economics: The Open-Access, Open-Assessment E-Journal, Vol. 3, 2009-23
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, D87Accepted Paper Series
Date posted: December 18, 2010
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