The Representative Agent in Macroeconomics

ISBN-13: 9780415146692 / Angielski / Twarda / 1997 / 240 str.

James E. Hartley

Opis

In the ROUTLEDGE FRONTIERS OF POLITICAL ECONOMY series, an evaluation of the use of representative agent models in macroeconomics which examines the justifications for their use and concludes that representative agent models are neither a proper nor a particularly useful means of studying aggregate behaviour.

Spis treści

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

O autorze

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