A NeoWicksellian in a New Classical World: The Methodology of Michael Woodford?s Interest and Prices

Kevin Hoover ()

No 249, Working Papers from University of California, Davis, Department of Economics

Abstract: Woodford?s Interest and Prices is considered from a methodological point of view. While innovative as a work of macroeconomic theory, it is decidedly in the mainstream methodologically. As such, it provides a good example of the methodological puzzles posed by modern macroeconomics: first, the notion that representative-agent models (or models with very constrained sorts of heterogeneous agents) provide genuine microfoundations; second, the idea that Paretian welfare economics in the context of such models gives any useful policy guidance.

Keywords: woodford; neowicksellian; classical (search for similar items in EconPapers)
JEL-codes: B41 E31 E32 E52 E58 (search for similar items in EconPapers)
Pages: 13
Date: 2004-05-31
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: A Neowicksellian in a New Classical World: The Methodology of Michael Woodford's Interest and Prices (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:cda:wpaper:249

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