Keynesian Economics Proven Microfounded, Challenging New Classical Macroeconomics.
The article discusses the difference between Keynesian and new classical macroeconomics regarding microfoundations. It challenges the idea that microfoundations are only present in new classical macroeconomics. The authors suggest a different, simpler definition of microfoundations based on optimizing planning. They argue that Keynesian macroeconomics can be considered microfounded in this sense, contrary to common belief.