Micro and macro in economics: an inquiry into their relation
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Abschlussarbeit Buch |
| Sprache: | English |
| Veröffentlicht: |
Groningen
Wolters-Noordhoff
1990
|
| Schriftenreihe: | Groningen theses in economics, management & organization
|
| Schlagworte: | |
| Online-Zugang: | Inhaltsverzeichnis |
| Beschreibung: | I, 182 S. graph. Darst. |
| ISBN: | 9001432786 |
Internformat
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Datensatz im Suchindex
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| adam_text | CONTENTS
Acknowledgement i
Introduction 1
1. Two Types of Connection between Micro and Macro 3
1.1 The Meaning of Micro and Macro in Economics 3
1.2 Individual Behaviour and Aggregate Relationships 7
1.2.1 Explaining Individual Behaviour 7
1.2.2 Explaining Aggregate Relationships 11
1.2.3 Explaining Aggregate Relationships in Terms of
Individual Behaviour: Two Examples from Other Sciences 12
1.2.3.1 An Explanation of the Ideal Gas Law 13
1.2.3.2 An Explanation of Olson s Hypothesis in Sociology 14
1.2.4 Explaining Aggregate Relationships in Terms of
Individual Behaviour: The Theory of Reduction 16
1.2.5 Methodological Individualism and Reduction in
Economic Theory 21
1.2.5.1 Individual Decision Making in a Multi
Individual Economy 23
1.3 General Equilibrium Analysis and Macroeconomics:
Two Alternative Programs 26
1.3.1 Programs and their Relations 27
1.3.2 General Equilibrium Analysis 28
1.3.2.1 An Introduction to Arrow Debreu Theory (ADT) 28
1.3.2.2 The Program of General Equilibrium Analysis 30
1.3.3 Mainstream Macroeconomics 31
1.3.3.1 An Introduction to Macroeconomics 32
1.3.3.2 Programs in Mainstream Macroeconomics 34
1.3.4 Micro Foundations of Macroeconomics:
Interacting Programs? 37
1.4 Scope and Content of the Following Chapters 39
2. Part 1: Aggregation, Analogy and the Representative Agent 41
2.1 Introduction 41
2.2 Approaches to the Aggregation Problem 43
2.2.1 The Klein/Nataf Approach 45
2.2.2 The May/Pu Approach 49
2.2.3 A Methodological Discussion of the Two Approaches 51
2.2.4 The Representativity Approach 54
2.2.5 Conclusion 55
2.3 Empirical Restrictions on Aggregate Excess Demand Functions 57
2.4 On the Difference between Individual and Aggregate
Relationships: Against Reductionism? 59
2.4.1 The Impact of Averaging: Hildenbrand on the
Law of Demand 60
2.4.2 The System Effect: The Paradox of Thrift 62
2.4.3 Estimation Effects: The Relation between Individual
and Aggregate Parameters 63
2.5 Conclusion 67
2. Part 2: On the Distribution of Aggregate Demand 69
2.6 Introduction 69
2.7 Individual Demand 70
2.8 The Distribution of Aggregate Demand 70
2.9 Discussion and Conclusion 74
Appendix 75
3. Part 1: Individualistic Foundations for Equilibrium Notions 77
3.1 Introduction 77
3.2 An Individualistic Explanation of Market Clearing Prices? 79
3.3 An Elementary Introduction to Game Theoretic Concepts 82
3.4.1 Cooperative Game Theory 83
3.4.2 Noncooperative Game Theory 85
3.4 Five Game Theoretic Approaches to an Explanation of
the ADT Law 88
3.4.1 An Auctioneer with an Objective Function 89
3.4.2 The Limit Points of the Theory of the Core 90
3.4.3 The Limit Points of Imperfect Competition 93
3.4.4 Bertrand Competition 94
3.4.5 Strategic Market Games 96
3.5 The Nash Equilibrium: A Consequence of Rational Individual
Behaviour? 97
3.6 Empirical Issues 101
3.7 Conclusion 103
3. Part 2: A Multimarket Bertrand Game as a Foundation for
Market Clearing Equilibrium 105
3.8 Introduction 105
3.9 The Single Market Case 106
3.10 A Multimarket Case without Endogenous Income 110
3.11 A Multimarket Case with Endogenous Income 114
3.12 The Case of Decreasing Returns to Scale 117
3.13 Conclusion 118
4. Part 1: What Is This Thing Called Microfoundations? 119
4.1 Introduction 119
4.2 Rational Expectations 121
4.2.1 Rational Expectations as an Equilibrium Assumption 123
4.2.2 Rational Expectations of Other Agents Expectations 124
4.2.3 Summary of the Argument 127
4.3 The Recent History of Macroeconomics: Microfoundations 128
4.3.1 New Classical Economics 128
4.3.2 Modern Keynesian Economics 130
4.4 Methodology 133
4.4.1 Lakatos Methodology of Scientific Research Programs 134
4.4.2 Cooperating and Competing Programs 138
4.4.3 Proofs and Refutations 142
4.4.4 Models as Caricatures 144
4.5 Conclusion 146
4. Part 2: Rationalizable Strategies and Government Policy
in a General Oligopolistic Equilibrium Model 148
4.6 Introduction 148
4.7 The Model 151
4.8 Rationalizable Strategies 155
4.9 Welfare Implications 158
4.10 Government Policy 159
4.11 Conclusion 162
Appendix 163
Summary and Conclusion 164
References 169
Nederlandse Samenvatting (Dutch Summary) 178
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| spelling | Janssen, Maarten C. W. 1962- Verfasser (DE-588)12879769X aut Micro and macro in economics an inquiry into their relation door Maarten Christiaan Wilhelmus Janssen Groningen Wolters-Noordhoff 1990 I, 182 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier Groningen theses in economics, management & organization Zugl.: Groningen, Univ., Diss., 1990 Macro-economie gtt Micro-economie gtt Macroeconomics Microeconomics Makroökonomie (DE-588)4037174-8 gnd rswk-swf Mikroökonomie (DE-588)4039225-9 gnd rswk-swf (DE-588)4113937-9 Hochschulschrift gnd-content Makroökonomie (DE-588)4037174-8 s Mikroökonomie (DE-588)4039225-9 s DE-604 HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=002808591&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Janssen, Maarten C. W. 1962- Micro and macro in economics an inquiry into their relation Macro-economie gtt Micro-economie gtt Macroeconomics Microeconomics Makroökonomie (DE-588)4037174-8 gnd Mikroökonomie (DE-588)4039225-9 gnd |
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| title | Micro and macro in economics an inquiry into their relation |
| title_auth | Micro and macro in economics an inquiry into their relation |
| title_exact_search | Micro and macro in economics an inquiry into their relation |
| title_full | Micro and macro in economics an inquiry into their relation door Maarten Christiaan Wilhelmus Janssen |
| title_fullStr | Micro and macro in economics an inquiry into their relation door Maarten Christiaan Wilhelmus Janssen |
| title_full_unstemmed | Micro and macro in economics an inquiry into their relation door Maarten Christiaan Wilhelmus Janssen |
| title_short | Micro and macro in economics |
| title_sort | micro and macro in economics an inquiry into their relation |
| title_sub | an inquiry into their relation |
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