The Representative Agent in Macroeconomics
Book Details
Format
Paperback / Softback
Book Series
Routledge Frontiers of Political Economy
ISBN-10
1138866121
ISBN-13
9781138866126
Publisher
Taylor & Francis Ltd
Imprint
Routledge
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Dec 2nd, 2014
Print length
240 Pages
Weight
340 grams
Product Classification:
Economic theory & philosophyMonetary economics
Ksh 9,550.00
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There has been little discussion in macroeconomic literature about the propriety or usefulness of representative agent models. This volume aims to evaluate the use of these models as a means of studying aggregate behaviour.
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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