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Does Macroeconomics Need Microeconomic Foundations?
Sergio Da Silva , 2009, vol. 3, issue 23, pages 1-11
Economics - The Open-Access, Open-Assessment E-Journal 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. --
Keywords: Microfoundations; neuroeconomics; econophysics (search for similar items in EconPapers)
JEL-codes: B22 B41 C82 D87 (search for similar items in EconPapers)
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Downloads: (external link) http://dx.doi.org/10.5018/economics-ejournal.ja.2009-23 http://econstor.eu/bitstream/10419/27542/1/economics_2009-23.pdf (application/pdf)
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Persistent link: http://EconPapers.repec.org/RePEc:zbw:ifweej:7608
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