Requiem for the Representative Consumer? Aggregate Implications of Microeconomic Consumption Behavior

By Christopher D. Carroll. 2000

123 citations recorded by the source corpus.

Subfields: Accounting, Economics and Econometrics

View Paper: https://www.semanticscholar.org/paper/b4d2e0a6c5b0c1693a340258149128889e4d862c

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Citations in the corpus

Heterogeneity and aggregation (2005, unknown): “Et(ln cit) Et(ln cit 1) = rt + ( + 'rt) 0 Et(zit) + k2 t 1 At + 2 t: (61)”
Behavioral Economics: Past, Present, Future (2003, unknown): “Predictions can be improved by introducing utility functions with " habit formation, " in which utility in a current period depends on the reference point of previous consumption, and by more carefully accounting for uncertainty about future income (see e.g. Carroll, 2000).”
Uninsured Idiosyncratic Investment Risk (2005, unknown): “Assessing the quantitative impact of labor-income risk and precautionary savings has been the subject of a long debate (e.g., Zeldes, 1989; Caballero, 1990; Aiyagari, 1994; Krusell and Smith, 1998; Carroll, 2000; Gourinchas and Parker, 2001), but the qualitative effect is unambiguous: at least in th”
Wealth Accumulation Over the Life Cycle and Precautionary Savings (2003, methodology): “Some contributions on the importance of heterogeneity and market incompleteness for general equilibrium have begun to appear (Browning, Hansen, and Heckman 1999; Carroll 2000a), but the problem deserves further study.”
House prices, borrowing constraints and monetary policy in the business cycle (2005, methodology): “agents’ problem in the paper when the following conditions hold: ( 1 ) prices are constant; (2) the interest rate is constant and higher than the discount rate; (3) the asset price is constant.”
A new approach to business fluctuations: heterogeneous interacting agents, scaling laws and financial fragility (2003, background): “to impose aggregate regularity at the individual level, has been long pointed out by Lewbel (1989) and Kirman (1992) with no impact on the mainstream (a notable exceptions is Carroll, 2001 ).”