In macroeconomics, it is traditionally assumed that the corporate and household sectors each consist of identical units that seek to maximise their profits or utility. In reality, however, the economy consists of many heterogeneous agents. This is emphasised not least by the growing analysis of micro data, which are becoming increasingly available for economic analysis. A key topical question is how significant this heterogeneity is for our understanding of the economy. For instance, do such differences simply cancel themselves out when one looks at the economy as a whole, or are differences between individual enterprises, employees or investors key to understanding the way in which economies work? The ninth spring conference aims to contribute to this discussion.
Updated on: 10/20/2017 11:27