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http://hdl.handle.net/10419/31327
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| Title: | | A NeoWicksellian in a new classical world: the methodology of Michael Woodford's Interest and Prices  |
| Authors: | | Hoover, Kevin D. |
| Issue Date: | | 2004 |
| Series/Report no.: | | Working papers // University of California, Department of Economics 06,5 |
| Abstract: | | Woodfords Interest and Prices is considered from a methodological point of view. While innovative as a work of macroeconomic theory, it is decidedly in the mainstream methodologically. As such, it provides a good example of the methodological puzzles posed by modern macroeconomics: first, the notion that representative-agent models (or models with very constrained sorts of heterogeneous agents) provide genuine microfoundations; second, the idea that Paretian welfare economics in the context of such models gives any useful policy guidance. |
| Document Type: | | Working Paper |
| Appears in Collections: | | Working Papers, Department of Economics, UC Davis
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