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Big Ideas in MacroeconomicsA Nontechnical View$
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Big Ideas in Macroeconomics: A Nontechnical View

Kartik B. Athreya

Print publication date: 2013

Print ISBN-13: 9780262019736

Published to MIT Press Scholarship Online: May 2014

DOI: 10.7551/mitpress/9780262019736.001.0001

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The Modern Macroeconomic Approach and the Arrow-Debreu-McKenzie Model

The Modern Macroeconomic Approach and the Arrow-Debreu-McKenzie Model

Chapter:
(p.11) 1 The Modern Macroeconomic Approach and the Arrow-Debreu-McKenzie Model
Source:
Big Ideas in Macroeconomics
Author(s):

Kartik B. Athreya

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262019736.003.0002

How do macroeconomists talk to each other? What is the benchmark macroeconomic model? What’s a way to think about societal outcomes that are (i) not wasteful and (ii) stable?

Keywords:   ADM model, Competitive (Walrasian) Equilibrium, Edgeworth Box, Pareto Efficiency, Core

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