“[t] he high road builds on the foundation of existing microeconomic theory, including the theory of the firm, consumer theory, and the implied microeconomic aggregation and index number theory. Advances in those areas are accepted and absorbed in a coherent manner as research proceeds up the high road. Constructive criticism of the high road is based upon recognition of the existence of unsolved problems in the supporting areas of economic research and the need for further development in those areas to permit the high road to climb even higher.”
KeywordsMonetary Policy Money Demand Demand System High Road Future Research Agendum
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