Beyond the Representative Agent

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Extends standard economic theory to take into account the presence of heterogeneity among economic agents, and argues for an approach to economic analysis which regards the economy as an interactive system with heterogeneous agents. Treats each sector of the economy as behaving like a single individual, and applies this approach to many macro- and microanalyses including monetary policy and firms, technological innovation, and the outsider-insider model.

Beyond the Representative Agent 1999, Edward Elgar Publishing

ISBN-13: 9781858987033