The Representative Agent in Macroeconomics  book cover
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1st Edition

The Representative Agent in Macroeconomics





ISBN 9781138866126
Published December 2, 2014 by Routledge
240 Pages

 
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Book Description

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.