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宏微观经济学经历了三次融合。在微观基础研究中,新古典主义把预期形成机制理论作为连接宏微观经济学之间的桥梁,而新凯恩斯主义则通过工资—价格粘性的原因解释和不完全市场结构的分析来构建宏观理论的微观基础。他们关于代表性主体、理性、均衡以及协调问题的观点都是不合理的,因此必须研究微观经济学的宏观基础。早在宏微观经济学分立之初,凯恩斯对这一问题就有所关注,西蒙开创性地提出了以“有限理性”为基础的“满意决策理论”,新凯恩斯主义则从制度上来研究宏观基础,其协调失灵学派还提出了协调失灵理论。对宏观基础进行系统研究的是20世纪90年代以来兴起的后瓦尔拉斯主义,其学者指出,具有有限理性的微观主体之间的相互作用使得经济系统方程具有多重均衡解,从而引起经济周期性波动,但宏观制度的协调功能会使经济处于相对稳定状态。
Macroeconomics has undergone three integration. In microcosmic basic research, neoclassicalism takes the theory of anticipatory formation as a bridge between macroscopical economics and neo-Keynesian constructs macroscopic theory through the explanation of the causes of wage-price stickiness and the analysis of incomplete market structure Micro-foundation. Their views on the subject of representation, rationality, equilibrium and coordination are all unreasonable, so the macro basis of microeconomics must be studied. As early as the beginning of the separation of macro-micro-economics, Keynes was concerned about this issue. Simon pioneered the “theory of satisfaction with decision-making based on bounded rationality”, and the new Keynesian studied the macro basis from the system , Its coordination failure school also put forward the theory of coordination failure. The systematic study of macroeconomic basis is post-Bealestra’s doctrine that has arisen since the 1990s. Some scholars point out that the interaction among the micro-subjects with bounded rationality leads to multiple equilibrium solutions to the economic system equations, which leads to economic cyclicality However, the coordination function of the macroeconomic system will make the economy relatively stable.