The Representative Agent in Macroeconomics

Download or read book The Representative Agent in Macroeconomics written by James E Hartley and published by Routledge. This book was released on 2002-01-04 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.