Internal consistency, price rigidity and the microfoundations of macroeconomics.
Macromodels based on microfoundations represent the dominant approach in macroeconomics. These models appear to adopt a clear methodological approach, which promotes internal consistency above external consistency as a necessary condition of admissibility. This paper develops two arguments. The firs...
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| Format: | Journal article |
| Language: | English |
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Taylor and Francis
2011
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