Jump to ContentJump to Main Navigation
Big Ideas in MacroeconomicsA Nontechnical View$
Users without a subscription are not able to see the full content.

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

Show Summary Details
Page of

PRINTED FROM MIT PRESS SCHOLARSHIP ONLINE (www.mitpress.universitypressscholarship.com). (c) Copyright The MIT Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in MITSO for personal use.date: 13 June 2021

Macroeconomic Shortcuts

Macroeconomic Shortcuts

Chapter:
(p.157) 4 Macroeconomic Shortcuts
Source:
Big Ideas in Macroeconomics
Author(s):

Kartik B. Athreya

Publisher:
The MIT Press
DOI:10.7551/mitpress/9780262019736.003.0005

Why do macroeconomists usually work with models that seem, to many, to be ridiculous simplifications of reality that stress mathematical coherence over economic substance? This chapter addresses important aspects of macroeconomic methodology. These ideas are infrequently discussed in existing work for nonprofessional economists. There are some reasons for using an overall approach to macroeconomics that seems to give easy ammunition to critics. The chapter covers each of these four “sins”: Aggregation, Rationality, Equilibrium, and Mathematics.

Keywords:   Aggregation, Representative Agent, Breeden-Lucas Fruit Trees, Rational Expectations, Expected Utility, Equilibrium Analysis, Steady State Analysis

MIT Press Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.