Complexity, causality, and expectations: Why macroeconomics needs a program of empirical microfoundations
Politics, Philosophy & Economics
Published online on January 12, 2026
Abstract
Politics, Philosophy & Economics, Ahead of Print.
The article engages in the well-known debate about the need to ground macroeconomics in a program of microfoundations. In this debate, new classical and new Keynesian macroeconomists argue for an eliminative program of microfoundations (which reduces ...
The article engages in the well-known debate about the need to ground macroeconomics in a program of microfoundations. In this debate, new classical and new Keynesian macroeconomists argue for an eliminative program of microfoundations (which reduces ...