Search Results - subject:"representativeagent"

Foundations or Bridges? A Review of J. E. King's The Microfoundations Delusion: Metaphor and Dogma in the History of Macroeconomics

Hoover, Kevin D. - 2013

A review of J.E. King's The Microfoundations Delusion: Metaphor and Dogma in the History of Macroeconomics.

Persistent link: https://www.econbiz.de/10011592211

Foundations or bridges? : a review of J.E. King's The microfoundations delusion: metaphor and dogma in the history of macroeconomics

Hoover, Kevin D. - 2013

Persistent link: https://www.econbiz.de/10011707343

Labor-Market Heterogeneity, Aggregation, and the Policy-(In)variance of DSGE Model Parameters

Chang, Yongsung; Kim, Sun-Bin; Schorfheide, Frank - University of Rochester - Center for Economic Research … - 2011

various fiscal policy regimes and an approximating representative-agent model is estimated. Preference and technology … parameter estimates of the representative-agent model are not invariant to policy changes and the bias in the representative-agent …

Persistent link: https://www.econbiz.de/10009322531

Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?

An, Sungbae; Chang, Yongsung; Kim, Sun-Bin - University of Rochester - Center for Economic Research … - 2008

unstable utility. Our analysis suggests that the representative-agent model often fails to represent an equilibrium outcome of …UNIVERSITY OF ROCHESTER Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy? An, Sungbae, Chang …, Yongsung, and Kim, Sun-Bin Working Paper No. 542 September 2008 Can a Representative-Agent Model Represent a Heterogeneous …

Persistent link: https://www.econbiz.de/10005808171

Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy?

An, Sungbae; Chang, Yongsung; Kim, Sun-Bin - East Asian Bureau of Economic Research (EABER) - 2008

Accounting for observed fluctuations in aggregate employment, consumption, and real wage using the optimality conditions of a representative household requires preferences that are incompatible with economic priors. In order to reconcile theory with data, we construct a model with heterogeneous...

Persistent link: https://www.econbiz.de/10009365323

Foundations or Bridges? A Review of J. E. King's The Microfoundations Delusion: Metaphor and Dogma in the History of Macroeconomics

Hoover, Kevin D. - Center for the History of Political Economy

A review of J.E. King’s The Microfoundations Delusion: Metaphor and Dogma in the History of Macroeconomics.

Persistent link: https://www.econbiz.de/10010878264