The nature of equilibrium in macroeconomics: A critique of equilibrium search theory
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- Aoki, Masanao & Yoshikawa, Hiroshi, 2008. "The Nature of Equilibrium in Macroeconomics: A Critique of Equilibrium Search Theory," Economics Discussion Papers 2008-37, Kiel Institute for the World Economy (IfW).
References listed on IDEAS
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- Masanao Aoki, 2006. "Thermodynamic Limits of Macroeconomic or Financial Models: One-and Two-Parameter Poisson-Dirichlet Models," CIRJE F-Series CIRJE-F-445, CIRJE, Faculty of Economics, University of Tokyo.
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- Sorin Solomon & Nataša Golo, 2015.
"Microeconomic structure determines macroeconomic dynamics: Aoki defeats the representative agent,"
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Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 10(1), pages 5-30, April.
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More about this item
KeywordsEquilibrium; search theory; productivity dispersion; power-law; non-self-averaging;
- D50 - Microeconomics - - General Equilibrium and Disequilibrium - - - General
- E50 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - General
- J64 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Unemployment: Models, Duration, Incidence, and Job Search
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