Abstract

DELEPLACE, Ghislain. The Absorption of Macroeconomics by Microeconomics. Lect. Econ. [online]. 2008, n.69, pp.245-298. ISSN 0120-2596.

The aim of this article is to analyze the dominant tendency in the history of macroeconomics. It attempts to identify the two routes that research on the microeconomic foundations of macroeconomics has followed. On the one hand, the relation between employment, wages and inflation (the route indicated by Friedman); on the other hand, the existence of rigidities or a monetary restriction (the route indicated by Clower).

Keywords : IS-LM model; Phillips. curve; constraint à la Clower; fixed prices equilibrium; nominal rigidities.

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