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The Representative Agent in Macroeconomics James E Hartley

The Representative Agent in Macroeconomics By James E Hartley

The Representative Agent in Macroeconomics by James E Hartley

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Summary

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.

The Representative Agent in Macroeconomics Summary

The Representative Agent in Macroeconomics by James E Hartley

Shows why representative agent models are inappropriate for the study of macroeconomy

Deconstructs representative agent models as a means of avoiding Lucas critique and constructing Walrasian models (general equilibrium models)

About James E Hartley

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

Table of Contents

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

Additional information

NLS9781138866126
9781138866126
1138866121
The Representative Agent in Macroeconomics by James E Hartley
James E Hartley
Routledge Frontiers of Political Economy
New
Paperback
Taylor & Francis Ltd
2014-12-02
240
N/A
Book picture is for illustrative purposes only, actual binding, cover or edition may vary.
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