Does Macroeconomics Need Microeconomic Foundations?

The author argues 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.

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Year of publication:	2009
Authors:	Da Silva, Sergio
Institutions:	Institut für Weltwirtschaft (IfW)
Subject:	Microfoundations \| neuroeconomics \| econophysics

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Extent:	application/pdf
Series:	Economics Discussion Papers. - ISSN 1867-8009.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2009-3
Classification:	C82 - Methodology for Collecting, Estimating, and Organizing Macroeconomic Data ; B41 - Economic Methodology ; B22 - Macroeconomics ; D87 - Neuroeconomics
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005083350