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Persistent link: https://www.econbiz.de/10011349210
explicit aggregation over firms. The aggregate model is estimated for the FRG. …
Persistent link: https://www.econbiz.de/10009681121
This paper gives an overview and evaluates the literature on Microfoundations.<P> See also 'Microfoundations: A Critical Inquiry', Routledge, London, 1993 Reviewed in Economic Journal, 1994; De Economist, 1995; Journal of Economic Methodology, 1996; Economics and Philosophy, 1996).
Persistent link: https://www.econbiz.de/10011256223
This article introduces the cascaded individual model of Post-keynesian economics. This differs from the representative agent model of the old-keynesian model mathematically and methodologically. The model builds from five assumptions containing original concepts: cascaded individuals, a social...
Persistent link: https://www.econbiz.de/10011113282
This article introduces the cascaded individual model of Post-keynesian economics. This differs from the representative agent model of the old-keynesian model mathematically and methodologically. The model builds from five assumptions containing original concepts: cascaded individuals, a social...
Persistent link: https://www.econbiz.de/10011025946
aggregation bias due to the diversity of beliefs. In this setting, the construction of a representative agent is shown to be also …
Persistent link: https://www.econbiz.de/10008790640
This paper is a generalization of [Calvet, L., Grandmont, J.-M., Lemaire, I., 2002. Aggregation of heterogenous beliefs …., Grandmont, J.-M., Lemaire, I., 2002. Aggregation of heterogenous beliefs and asset pricing in complete financial markets … the aggregation bias due to the diversity of beliefs. In this setting, the construction of a representative agent is shown …
Persistent link: https://www.econbiz.de/10008790965
This paper gives an overview and evaluates the literature on Microfoundations.
Persistent link: https://www.econbiz.de/10010325179
This paper gives an overview and evaluates the literature on Microfoundations.<P>
Persistent link: https://www.econbiz.de/10005209438
This paper sketches the history of behavioral macroeconomics and presents four current approaches in the literature: the ad hoc behavioral approach, partial behavioral macroeconomic models, experimental macroeconomics, and behavioral DSGE models. Much of this literature is still patchwork, with...
Persistent link: https://www.econbiz.de/10014363293