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The Representative Agent Model

In: Macroeconomic Theory

Author

Listed:
  • Fernando de Holanda Barbosa

    (FGV EPGE Escola Brasileira de Economia e Finanças (1980/2020))

Abstract

The representative agent model has become the workhorse of macroeconomics since the 1980s. In this chapter we introduce this model. The first section presents the basic model. The second section adds a government into the economy. The third section addresses the model of a monetary economy with two monetary policy rules. The central bank controls the money stock under one and the nominal interest rate under the other.

Suggested Citation

  • Fernando de Holanda Barbosa, 2024. "The Representative Agent Model," Springer Texts in Business and Economics, in: Macroeconomic Theory, edition 0, chapter 1, pages 3-28, Springer.
    • Handle: RePEc:spr:sptchp:978-3-031-70177-1_1
    DOI: 10.1007/978-3-031-70177-1_1
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