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Paul Samuelson's Foundations of Economic Analysis (1947) provided much of the microeconomic basis for the synthesis.
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Our paper provides a microeconomic foundation for their research, using Pareto efficiency and stationary equilibrium as a basis.
"Yellen was in the vanguard of economists who tried to provide a firm basis in microeconomic principles for Keynes's macroeconomic ideas," helping to explain why wages do not fall, instead of employment, in a recession, said Valerie A. Ramey of the University of California, San Diego.
Pereira (1989) shows the four forms of state intervention: macroeconomic regulation, limited by centralized planning; microeconomic regulation, with rules of protection to the health and safety of consumers; managerial microeconomics, regulation on a case-by-case basis; and nationalization or direct production, aiming the abolition of private property above the means of production.
Microeconomic failure is not macroeconomic failure.
The benefits of microeconomic reform were always oversold.
Now, let's reduce this theory to microeconomic reality.
But the "positive agenda" of microeconomic measures could speed up.
"It's at the macro- and microeconomic levels".
Economists outside Germany agree that microeconomic reforms were necessary.
A bold microeconomic agenda will not yield instant rewards.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com