The representative agent in macroeconomics / James E. Hartley.

Format:

Book

Author/Creator:

Hartley, James E., 1966-

Series:

Routledge frontiers of political economy ; 10.

Routledge frontiers of political economy ; 10

Language:

English

Subjects (All):

Macroeconomics--Econometric models.

Macroeconomics.

Microeconomics.

Econometrics.

Economics--Methodology.

Economics.

Physical Description:

1 online resource (240 p.)

Edition:

1st ed.

Place of Publication:

London ; New York : Routledge, 1997.

Language Note:

English

Summary:

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.

Contents:

Book Cover; Title; Contents; Acknowledgments; INTRODUCTION; THE ORIGINS OF THE REPRESENTATIVE AGENT; ARGUMENT FOR THE NEW CLASSICAL USE OF REPRESENTATIVE AGENT MODELS; BEYOND TASTE AND TECHNOLOGY PARAMETERS IN MACROECONOMICS; WALRASIAN METHODOLOGY; MARSHALLIAN METHODOLOGY; THE NEW CLASSICALS AS WALRASIAN ECONOMISTS; MICROFOUNDATIONS: AUSTRIAN STYLE; THE TRADITIONAL CASE FOR MICROFOUNDATIONS; THE AGGREGATION PROBLEM; INDIVIDUAL AND MARKET EXPERIMENTS; THE REPRESENTATIVE AGENT VERSUS MICROFOUNDATIONS; THE MYTH OF MICROFOUNDATIONS; AFTER REPRESENTATIVE AGENT MODELS; Notes; Bibliography; Index

Notes:

Description based upon print version of record.

Includes bibliographical references (p. 211-223) and index.

ISBN:

9781134756810

113475681X

9781280332746

1280332743

9780203280492

0203280490

9780203018682

0203018680

OCLC:

50119843