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Empirical modelling of the aggregation error in the representative consumer model

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Sarmiento, Camilo
Just, Richard
Abstract (Spanish)
Este artículo examina diferentes enfoques para modelar la agregación error asociado con el modelo de consumidor representativo. Cada enfoque se basa en un marco analítico destinado a modelar el tiempo agregado datos en serie sobre cantidades y precios con posibles medidas adicionales de la distribución del ingreso. Funciones simples que rastrean el error de agregación tiempo se encuentran para funcionar mejor que los más complejos y teóricamente modelos sofisticados. Se da una explicación basada en series de tiempo típicas. Características de los datos económicos.
Abstract (English)
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.
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14 páginas
URI: https://repositorio.escuelaing.edu.co/handle/001/2821
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AG - Centro de Estudios Económicos
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