Definition of Microfoundations. Meaning of Microfoundations. Synonyms of Microfoundations

- advantages of microfoundations: Microfoundations provides a modelling structure where data may not be very informative. Microfoundations avoids the Lucas...
- This is in contrast with its rival new Keynesian school that uses microfoundations, such as price stickiness and imperfect competition, to generate macroeconomic...
- critique, much of modern macroeconomic theories has been built upon microfoundations—i.e., based upon basic ****umptions about micro-level behavior. Microeconomic...
- J. Bradford DeLong argued that mathiness means "restricting your microfoundations in advance to guarantee a particular political result and hiding what...
- New Keynesians adopted rational expectations and built models with microfoundations of sticky prices that suggested recessions could still be explained...
- Liquidity trap Measures of national income and output GDP GNI NNI Microfoundations Money Endogenous Money creation Demand for money Liquidity preference...
- and international aspects. Modern analysis has attempted to provide microfoundations for the demand for money and to distinguish valid nominal and real...
- stochastic general equilibrium models that are explicitly based on microfoundations, often distinguish households, firms, and governments or central banks...
- better. It was characterized by explicit and rigorous adherence to microfoundations, as well as use of increasingly sophisticated mathematical modelling...
- aimed at stabilizing the business cycle are welfare-reducing. Since microfoundations are based on the preferences of decision-makers in the model, DSGE...