Beyond the Representative Agent

The authors argue for an approach to economic analysis which regards the economy as an interactive system with heterogenous agents and not a system which treats aggregates as some representative individual. They then apply this approach to macro- and micro-analyses including monetary policy and firms, technological innovation and the insider-outsider model. They find that this approach proves more fruitful in explaining empirical phenomena than much of the existing theory.

• Format: Hardcover
• Language: English
• ISBN: 1858987032
• ISBN13: 9781858987033
• Release Date: November 1999
• Publisher: Edward Elgar Publishing
• Length: 368 Pages
• Dimensions: 50.0" x 25.0"