E-Book, Englisch, 114 Seiten, eBook
Schlicht Isolation and Aggregation in Economics
1985
ISBN: 978-3-642-70298-3
Verlag: Springer
Format: PDF
Kopierschutz: 1 - PDF Watermark
E-Book, Englisch, 114 Seiten, eBook
ISBN: 978-3-642-70298-3
Verlag: Springer
Format: PDF
Kopierschutz: 1 - PDF Watermark
Zielgruppe
Research
Autoren/Hrsg.
Weitere Infos & Material
1. The Setting of the Argument.- 1.1 Two Characteristics of Economic Analysis.- 1.2 The Provisional Nature of Economic Data.- 1.2.1 Data and Variables.- 1.2.2 Provisional Data.- 1.2.3 The Ceteris Paribus Clause.- 1.2.4 A Difficulty in Applications.- 1.2.5 Economics as a Deductive Science.- 1.2.6 The Homo Oeconomicus.- 1.2.7 The Isolation Principle.- 1.2.8 The Moving Equilibrium Method.- 1.2.9 The Nature of Economic Theories.- 1.2.10 Consequences for Econometrics.- 1.3 Intricacies in Macroeconomic Analysis.- 1.3.1 Economic Aggregates and Macroeconomic Problems.- 1.3.2 The Microeconomic Approach to Macroeconomic Problems.- 1.3.3 The Macroeconomic Approach to Macroeconomic Problems.- 1.3.4 The Hermeneutic Aggregation Problem.- 1.3.5 The Typical Agent.- 1.3.6 The Representative Agent.- 1.3.7 Micro and Macro Behaviour Might Differ.- 1.3.8 Macroeconomics and Aggregation.- 1.4 Isolation and Aggregation.- 2. On Isolation.- 2.1 The Heuristic View.- 2.2 The Isolating Approach.- 2.2.1 The Marshallian Method.- 2.2.2 Substantive and Hypothetical Isolation.- 2.3 Substantive Isolation.- 2.3.1 The Isolation Principle.- 2.3.2 Temporal Isolation.- 2.3.3 Causal Isolation.- 2.4 Hypothetical Isolation.- 2.4.1 Analytical Isolation.- 2.4.2 Hypothetical Theories.- 2.4.3 A Remark on Scientific Discourse.- 2.5 Economic Thinking.- 3. The Moving Equilibrium Method.- 3.1 Economic Equilibrium.- 3.2 Moving Equilibria.- 3.2.1 Partial Analysis.- 3.2.2 Comparative Statics.- 3.2.3 The Moving Equilibrium Method.- 3.3 Extensions.- 3.3.1 The Marshallian Market.- 3.3.2 A Qualification.- 3.3.3 A Ramification.- 3.3.4 Discontinuities.- 3.4 Mathematical Aspects.- 3.4.1 Approximation by Moving Equilibrium.- 3.4.2 Additional Observations.- 3.5 Hicks-d’Alembert’s Principle.- 4. Econometric Implications.- 4.1 Linking Theory and Empirical Evidence.- 4.2 Invariances in Coefficients Versus Invariances in Their Stability.- 4.2.1 The Classical Invariance Premise.- 4.2.2 Economic Models as “Models of Thought”.- 4.2.3 Short-Run Invariances.- 4.2.4 Invariances in Stabilities.- 4.3 Estimation in a Linear Model with Random Walk Coefficients.- 4.3.1 The Model.- 4.3.2 Notation.- 4.3.3 A Parametrization.- 4.3.4 Estimating the Coefficients.- 4.3.5 Estimation of Variances.- 4.3.6 An Approximation.- 4.4 Unsettled Problems.- 5. The Nature of Macroeconomic Laws.- 5.1 On Reductionism.- 5.2 The Macroeconomic Method.- 5.2.1 Macroeconomics as an Isolating Approach.- 5.2.2 The Aggregation Principle.- 5.2.3 Aggregation and Moving Equilibrium.- 5.2.4 The Macroeconomic Isolation Principle.- 5.3 Closed Aggregation and the Context Dependency of Economic Laws.- 5.3.1 Closed Versus Open Aggregation: A Comparison in Statics.- 5.3.2 The Context Dependency of Economic Relations.- 5.4 Qualitative Differences Between Microeconomic and Macroeconomic Laws.- 5.4.1 Three Differences.- 5.4.2 The Smoothing Effect.- 5.4.3 The Elimination Effect.- 5.4.4 The System Effect.- 5.5 Hermeneutic Aggregation.- 5.5.1 The Status of the Aggregation Problem.- 5.5.2 Revised Reductionism.- 5.5.3 Macroeconomic Order and Microeconomic Chaos.- 5.5.4 Structural Causality.- 5.6 Adequate Aggregation.- 6. Epilogue: Economic Imagination.- References.- Author Index.
