Does Macroeconomics Need Microeconomic Foundations?

Sergio Da Silva

Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), 2009, vol. 3, No 2009-23, 11 pages

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)
Date: 2009
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Citations: View citations in EconPapers (3)

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Working Paper: Does Macroeconomics Need Microeconomic Foundations? (2009)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:ifweej:7608

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

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