ABSTRACT
In this chapter I begin to analyse the Keynesian approach to microfoundations, dealing with the ‘representative’ contributions of several leading members of three Keynesian families who regard the Walrasian model as the benchmark of their analysis. In particular, I focus on Disequilibrists like Clower, Lejonhufvud, Barro, Grossman and Malinvaud, on New Keynesian economists like Stiglitz and a general equilibrium theorist like Hahn. For simplicity’s sake, I call all these authors New Keynesians.
