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Microfoundations of Dynamic Macroequations

In: Themes in Modern Macroeconomics

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  • Marco Lippi

Abstract

In the last three decades, two of the most important ideas of economic theory have undergone a rigorous analysis. I am referring here to the monotonic increasing relationship between the rate of interest and the labour employed per unit of output, and to the adjustment process of prices, known as tâtonnement, in a Walrasian general equilibrium system.

Suggested Citation

  • Marco Lippi, 1992. "Microfoundations of Dynamic Macroequations," Palgrave Macmillan Books, in: Helge Brink (ed.), Themes in Modern Macroeconomics, chapter 3, pages 35-50, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-12511-1_3
    DOI: 10.1007/978-1-349-12511-1_3
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