De Economist

, Volume 135, Issue 4, pp 429–441 | Cite as

Uncertainty in/of macroeconomics: An essay on adequate abstraction

  • L. H. Hoogduin
  • J. Snippe
Article

Summary

The search for microfoundations for macroeconomics has been stimulated by uncertainty about the status of macroeconomics and is closely related to the neo-Walrasian research program. This relationship is explained and criticised, because it obscures the historical connection between macroeconomics and the study of monetary economies and leads to attempts to underpin a pretence of knowledge, which can never be justified. This paper argues that the question which neo-Wairasians try to solve is based on ignorance of the abstract nature of macroeconomics. Once this nature is taken into account, the question loses much of its relevance.

Keywords

Research Program International Economic Public Finance Abstract Nature Monetary Economy 

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Copyright information

© H.E. Stenfert Kroese B.V. 1987

Authors and Affiliations

  • L. H. Hoogduin
    • 1
  • J. Snippe
    • 2
  1. 1.University of GroningenThe Netherlands
  2. 2.Banque Paribas Nederland N.V.Amsterdam

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