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Micro Takes Over Macro

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Author Info
M Gani (Economic Science Institute, Dhaka.)

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Abstract

An analytical innovation enhances microeconomics, enabling it to answer all questions of macroeconomics. It combines the production and consumption decisions of the individual in one model. For each individual, it identifies the customers of what he sells, and the suppliers of what he buys. It specifies the exchange relations between the suppliers and the customers. These relations deal with value (quantities and prices), payment (subsistence, barter, money, and bond) and intermediation (entrepreneurship, transaction costs, institutions), all of them integrated. It is easier done than said with the input- output table. There is no further need for a separate macroeconomics.

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File URL: http://129.3.20.41/eps/mac/papers/0404/0404012.pdf
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Publisher Info
Paper provided by EconWPA in its series Macroeconomics with number 0404012.

Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Length: 18 pages
Date of creation: 15 Apr 2004
Date of revision:
Handle: RePEc:wpa:wuwpma:0404012

Note: Type of Document - pdf; pages: 18. This is a completely new analytical approach to macroeconomics.
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Web page: http://129.3.20.41

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Related research
Keywords: Microeconomics; macroeconomics; innovation; output; employment; money.;

Find related papers by JEL classification:
C67 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Input-Output Models
C68 - Mathematical and Quantitative Methods - - Mathematical Methods and Programming - - - Computable General Equilibrium Models
D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
E10 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - General
E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
J64 - Labor and Demographic Economics - - Mobility, Unemployment, and Vacancies - - - Unemployment: Models, Duration, Incidence, and Job Search

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This page was last updated on 2009-11-30.

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