-
advantages of
microfoundations:
Microfoundations provides a
modelling structure where data may not be very informative.
Microfoundations avoids the Lucas...
- New
Keynesians adopted rational expectations and
built models with
microfoundations of
sticky prices that
suggested recessions could still be explained...
- This is in
contrast with its
rival new
Keynesian school that uses
microfoundations, such as
price stickiness and
imperfect competition, to
generate macroeconomic...
-
Liquidity trap
Measures of
national income and
output GDP GNI NNI
Microfoundations Money Endogenous Money creation Demand for
money Liquidity preference...
- critique, much of
modern macroeconomic theories has been
built upon
microfoundations—i.e.,
based upon
basic ****umptions
about micro-level behavior. Microeconomic...
- constraints) that are ****umed to
govern individual behavior: so-called "
microfoundations." If
these models can
account for
observed empirical regularities,...
-
Consciousness Studies, 5 (1) p 72. Tsoukalas, I. (2007).
Exploring the
Microfoundations of
Group Consciousness.
Culture and Psychology, 13(1), 39-81. Ernst...
-
stochastic general equilibrium models that are
explicitly based on
microfoundations,
often distinguish households, firms, and
governments or
central banks...
- macroeconomists,
including new Keynesians,
reformulated their models with
microfoundations, in
which microeconomic concepts play a
major part.
Sometimes an economic...
-
Liquidity trap
Measures of
national income and
output GDP GNI NNI
Microfoundations Money Endogenous Money creation Demand for
money Liquidity preference...
