Representative Agent in Macroeconomics
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A01=James E Hartley
agents
Aggregate Consumption Function
Aggregation Bias
aggregative
Author_James E Hartley
Category=KCA
Category=KCBM
Competitive Equilibrium
Concave Programming Problems
critique
eq_bestseller
eq_business-finance-law
eq_isMigrated=1
eq_isMigrated=2
eq_nobargain
eq_non-fiction
expectations
Granger Causality
hypothesis
lucas
Lucas Critique
Marshall's Representative Firm
Marshallian Methodology
Marshall’s Representative Firm
Measured Risk Premium
microeconomic
Microeconomic Agents
Microeconomic Theory
Microfoundational Model
model
problems
rational
Rational Expectations
Rational Expectations Hypothesis
Real Business Cycle Model
Representative Agent
Representative Agent Assumption
Representative Agent Framework
Representative Agent Models
Representative Firm
Sargent's Model
Sargent’s Model
Theoretical Presumption
Walrasian Models
Walrasian Tradition
Product details
- ISBN 9781138866126
- Weight: 340g
- Dimensions: 156 x 234mm
- Publication Date: 02 Dec 2014
- Publisher: Taylor & Francis Ltd
- Publication City/Country: GB
- Product Form: Paperback
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Rpresentative agent models have become a predominant means of studying the macroeconomy in modern economics without there being much discussion in the literature about their propriety or usefulness. This volume evaluates the use of these models in macroeconomics, examining the justifications for their use and concluding that representative agent models are neither a proper nor a particularly useful means of studying aggregate behaviour.
James E. Hartley is Assistant Professor of Economics at Mount Holyoke College, Massachusetts
