The Representative Agent in Macroeconomics

1st Edition

James E Hartley, James E. Hartley

Routledge
Published December 2, 2014
Reference - 240 Pages
ISBN 9781138866126 - CAT# Y178479

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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.

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