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| Author: | Laidler, D. |
| Title: | Notes on the microfoundations of monetary economics |
| Journal: | Economic Journal
1997 : JUL, VOL. 106:443, p. 1213-1223 |
| Index terms: | MONETARY ECONOMICS MICROECONOMICS MONEY |
| Language: | eng |
| Abstract: | Current orthodoxy in macroeconomics looks to Walrasian general equilibrium theory for its microeconomic foundations and this has led to difficulties when it comes to analysis of money. An alternative approach which emphasises money's means of exchange function and the role of monetary exchange as an alternative means of coordinating individual choices to those postulated by Walrasian analysts, underlies all the contributions to this symposium. That the approach in question has not yet achieved the degree of logical coherence that characterises prevailing ortodoxy may be treated either as a reason for rejecting it, or as a sign that there are likely to be signicant payoffs to further investigations. |
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