Can a Representative-Agent Model Represent a Heterogeneous-Agent Economy
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 agen...
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| المؤلفون الرئيسيون: | , , |
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| التنسيق: | text |
| اللغة: | English |
| منشور في: |
Institutional Knowledge at Singapore Management University
2009
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| الموضوعات: | |
| الوصول للمادة أونلاين: | https://ink.library.smu.edu.sg/soe_research/544 https://ink.library.smu.edu.sg/context/soe_research/article/1543/viewcontent/mac.1.2.29.pdf |
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| المؤسسة: | Singapore Management University |
| اللغة: | English |