James E Hartley, James E. Hartley

The Representative Agent in Macroeconomics (eBook, ePUB)

• Format: ePub

Produktbeschreibung

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.

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Produktdetails

• Verlag: Taylor & Francis
• Seitenzahl: 240
• Erscheinungstermin: 4. Januar 2002
• Englisch
• ISBN-13: 9781134756803
• Artikelnr.: 42682140

Autorenporträt

James E. Hartley is Assistant Professor of Economics at Mount Holyoke College, Massachusetts

Inhaltsangabe

Part I Why representative agents?1 INTRODUCTION 2 THE ORIGINS OF THE
REPRESENTATIVE AGENT 3 ARGUMENT FOR THE NEW CLASSICAL USE OF REPRESENTATIVE
AGENT MODELS Part II The Lucas Critique 4 BEYOND TASTE AND TECHNOLOGY
PARAMETERS IN MACROECONOMICS Part III The Walrasian tradition 5 WALRASIAN
METHODOLOGY 6 MARSHALLIAN METHODOLOGY 7 THE NEW CLASSICALS AS WALRASIAN
ECONOMISTS Part IV Microfoundations 8 MICROFOUNDATIONS: AUSTRIAN STYLE 9
THE TRADITIONAL CASE FOR MICROFOUNDATIONS 10 THE AGGREGATION PROBLEM 11
INDIVIDUAL AND MARKET EXPERIMENTS 12 THE REPRESENTATIVE AGENT VERSUS
MICROFOUNDATIONS 13 THE MYTH OF MICROFOUNDATIONS Part V Whither
macroeconomics? 14 AFTER REPRESENTATIVE AGENT MODELS