Aggregation of Variables in Dynamic Systems

摘要: In many problems of economic theory we need to use aggregates. The general Walrasian system and its more modern dynamic extensions are relatively barren results for macroeconomics policy. Hence, in our desire deal with such questions highly aggregated systems by sheer necessity, often without having much than the same necessity as justification. Perhaps most important result date justifying aggregation under certain circumstances is Lange-Hicks1 condition, about which shall say later.