Construct · 1 fields · 1 citations

approximate aggregation: a standalone construct

One name. One construct. A landmark on the map.

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Macroeconomics

the finding that in heterogeneous-agent economies aggregate dynamics are well described by a few moments of the wealth distribution.

In macroeconomics, approximate aggregation refers to the finding that in heterogeneous-agent economies aggregate dynamics are well described by a few moments of the wealth distribution. This meaning comes from Krusell (1998) in Journal of Political Economy.[1]

Unit
Recovery means
Measured by

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Nearby constructs

aggregate3 fields · 6 citationsjingle · one word, three constructs distribution2 fields · 2 citationsjingle · one word, two constructs dynamics3 fields · 3 citationsjingle · one word, three constructs

References

Krusell, P., & Smith, Jr., A. A. (1998). Income and Wealth Heterogeneity in the Macroeconomy. Journal of Political Economy, 106(5), 867-896. https://doi.org/10.1086/250034

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