Gomme, Paul A.; Rogerson, Richard Donald; Rupert, Peter; … - 2004 - [Elektronische Ressource]
1 Introduction
The representative household model is the workhorse of modern business cycle
theory. One can understand … the model. Third, from a technical perspective, the appro-
priate theoretical framework in modern business cycle theory is … dynamic stochas-
tic general equilibrium theory, and assuming a representative agent greatly reduces
the burden of such …