Journal Article
Microfoundations of Money: Why They Matter
Abstract: What is the value of having microfoundations for monetary exchange in a macro model? In this article, the author attempts to answer this question by listing what he considers the major accomplishments of the field. He argues that the evidence overwhelmingly shows that microfoundations matter for many questions of first-order importance in macroeconomics.
https://doi.org/10.20955/r.2015.289-301
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http://dx.doi.org/10.20955/r.2015.289-301
Description: http://dx.doi.org/10.20955/r.2015.289-301
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Provider: Federal Reserve Bank of St. Louis
Part of Series: Review
Publication Date: 2015
Volume: 97
Issue: 4
Pages: 289-301