Microfoundations and Macroeconomics: 20 Years

Cachanosky, Nicolas

doi:10.2139/ssrn.3569069

Microfoundations and Macroeconomics: 20 Years

The Review of Austrian Economics, Forthcoming

AIER Sound Money Project Working Paper No. 2020-12

21 Pages Posted: 1 May 2020 Last revised: 22 Sep 2020

See all articles by Nicolas Cachanosky

Nicolas Cachanosky

Metropolitan State University of Denver; American Institute for Economic Research

Date Written: April 5, 2020

Abstract

This paper summarizes Horwitz's contributions in Micro-foundations and Macroeconomics: An Austrian Perspective and evaluates its connection with recent contributions in Austrian macroeconomics. The paper emphasizes the connection between relative price, monetary equilibrium, and monetary policy. The paper pays particular attention to the implications of Horwitz’s denomination of capital theory as a “missing link” in economic theory.

Keywords: Micro-foundations, Capital Theory, Monetary Equilibrium

JEL Classification: B53, E14, E30, E50

Suggested Citation: Suggested Citation

Cachanosky, Nicolas, Microfoundations and Macroeconomics: 20 Years (April 5, 2020). The Review of Austrian Economics, Forthcoming, AIER Sound Money Project Working Paper No. 2020-12, Available at SSRN: https://ssrn.com/abstract=3569069 or http://dx.doi.org/10.2139/ssrn.3569069