Aggregation And The Microfoundations Of Dynamic Macroeconomics
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Aggregation And The Microfoundations Of Dynamic Macroeconomics
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Author : Mario Forni
language : en
Publisher: Oxford University Press
Release Date : 1997
Aggregation And The Microfoundations Of Dynamic Macroeconomics written by Mario Forni and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1997 with Business & Economics categories.
Through careful methodological analysis, this book argues that modern macroeconomics has completely overlooked the aggregate nature of the data. In Part I, the authors test and reject the homogeneity assumption using disaggregate data. In Part II, they demonstrate that apart from random flukes, cointegration unidirectional Granger causality and restrictions on parameters do not survive aggregation when heterogeneity is introduced. They conclude that the claim that modern macroeconomics has solid microfoundations is unwarranted. However, some important theory-based models that do not fit aggregate data well in their representative-agent version can be reconciled with aggregate data by introducing heterogeneity.
Microfoundations Reconsidered
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Author : Pedro Garcia Duarte
language : en
Publisher: Edward Elgar Publishing
Release Date : 2012-01-01
Microfoundations Reconsidered written by Pedro Garcia Duarte and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-01-01 with Business & Economics categories.
Most macroeconomists agree that we live in the age of microfoundations. The recent worldwide financial crisis may have emboldened critics of this microfoundational orthodoxy, but it remains the dominant view that macroeconomic models must go beyond supply and demand functions to the level of individual decision-making, taking into account the general dynamic environment where agents live. Microfoundations Reconsidered seeks to reassess how the relationship of micro and macroeconomics evolved over time. The highly regarded contributors to the book argue that the standard narrative of microfoundations is likely to be unreliable. They therefore re-examine the history of the relationship of microeconomics and macroeconomics, starting from their emergence as self-consciously distinct fields within economics in the early 1930s. They seek to go beyond the conventional history that is often told and written by practicing economists. From different perspectives they challenge the association of microfoundations with Robert Lucas and rational expectations and offer both a more complete and a deeper reading of the relationship between micro and macroeconomics. Microfoundations Reconsidered is a valuable addition to the macroeconomic research literature. It is ideally suited to students, scholars, researchers, and practitioners with an interest in macro and microeconomics and the history of economics.
Isolation And Aggregation In Economics
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Author : Ekkehart Schlicht
language : en
Publisher: Ekkehart Schlicht
Release Date : 1985
Isolation And Aggregation In Economics written by Ekkehart Schlicht and has been published by Ekkehart Schlicht this book supported file pdf, txt, epub, kindle and other format this book has been release on 1985 with Macroeconomics categories.
Interactive Macroeconomics
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Author : Corrado Di Guilmi
language : en
Publisher: Cambridge University Press
Release Date : 2017-04-04
Interactive Macroeconomics written by Corrado Di Guilmi and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-04-04 with Business & Economics categories.
This book describes the analysis of macroeconomic agent based models using the tools of statistical mechanics.
Revival The Megacorp And Oligopoly Micro Foundations Of Macro Dynamics 1981
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Author : Alfred S. Eicher
language : en
Publisher: Routledge
Release Date : 2017-09-29
Revival The Megacorp And Oligopoly Micro Foundations Of Macro Dynamics 1981 written by Alfred S. Eicher and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-09-29 with Political Science categories.
This title was first published in 1976. This book provides both an explanation of the inflation which has bedeviled economic policy in the West since the end of World War II and a micro-economic theory to purge Keynesian models of the Walrasian strain derived from Marshall's Principles. By focusing on what is taken to be the representative business firm of the twentieth century - the large corporation or megacorp - the microeconomic model presented in the book reverses the usual assumptions of economic analysis. Instead of assuming the existence of firms with no control over prices, the book examines how the megacorp uses its pricing power to finance its own internal rate of growth. The result is a determinant model of how prices are set under the sort of oligopolistic conditions which prevail in most modern industries throughout the world.
Rethinking Macroeconomics With Endogenous Market Structure
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Author : Marco Mazzoli
language : en
Publisher: Cambridge University Press
Release Date : 2019-12-19
Rethinking Macroeconomics With Endogenous Market Structure written by Marco Mazzoli and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-12-19 with Business & Economics categories.
"The last decade has seen a lively debate in macroeconomics, with an increasing criticism on the model that seemed to be dominant in literature since the end of the 1990's, the Dynamic Stochastic General Equilibrium (DSGE, hereafter) and, consequently, the birth of some new theoretical approaches and methodologies"--
Microfoundations
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Author : Maarten Christiaan Wilhelmus Janssen
language : en
Publisher: Psychology Press
Release Date : 1993
Microfoundations written by Maarten Christiaan Wilhelmus Janssen and has been published by Psychology Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1993 with Business & Economics categories.
This argues that it is really microeconomics' concern with the functioning of markets that underlies the theories which attempt to provide macroeconomics with microfoundations.
Inflation Employment And Business Fluctuations
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Author : Bozzano G Luisa
language : en
Publisher: Elsevier
Release Date : 2000-11-16
Inflation Employment And Business Fluctuations written by Bozzano G Luisa and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2000-11-16 with Business & Economics categories.
A Textbook on Macroeconomic Knowledge and Analysis
A Practical Guide To Macroeconomics
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Author : Jeremy B. Rudd
language : en
Publisher: Cambridge University Press
Release Date : 2024-03-31
A Practical Guide To Macroeconomics written by Jeremy B. Rudd and has been published by Cambridge University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2024-03-31 with Business & Economics categories.
The book gives an insider's perspective on how policy economists do their jobs. It is intended for academics and students who want to make their economic research more relevant for policy, or for anyone who wants an overview of some of the important unanswered questions in macroeconomics.
Emergent Macroeconomics
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Author : Domenico Gatti
language : en
Publisher: Springer Science & Business Media
Release Date : 2008-12-05
Emergent Macroeconomics written by Domenico Gatti and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-12-05 with Science categories.
This valuable book contributes substantively to the current state-of-the-art of macroeconomics. It provides a method for building models in which business cycles and economic growth emerge from the interactions of a large number of heterogeneous agents. Drawing from recent advances in agent-based computational modeling, the authors show how insights from dispersed fields can be fruitfully combined to improve our understanding of macroeconomic dynamics.