Empirical modelling of the aggregation error in the representative consumer model

C-Tier
Journal: Applied Economics
Year: 2005
Volume: 37
Issue: 10
Pages: 1163-1175

Authors (2)

Camilo Sarmiento (not in RePEc) Richard Just (University of Maryland)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper examines different approaches to modelling the aggregation error associated with the representative consumer model. Each approach is based on an analytical framework intended for modelling aggregate time series data on quantities and prices with potential additional measures of income distribution. Simple functions that track aggregation error over time are found to perform better than more complex and theoretically sophisticated models. An explanation is given based on typical time series characteristics of economic data.

Technical Details

RePEc Handle
repec:taf:applec:v:37:y:2005:i:10:p:1163-1175
Journal Field
General
Author Count
2
Added to Database
2026-01-25