Heterogeneous Agents in Macroeconomics

July 2-3, 1999

This conference was jointly organized by CREI and The Bradley Policy Research Center, Rochester University. The program was prepared by professors Albert Marcet (UPF, Barcelona), Vicenzo Quadrini (Duke U.) and Thomas Cooley (Rochester U.). Financial support was obtained from the Spanish Ministerio de Educación y Cultura and from the Bradley Policy Research Center.

The papers presented at the conference focused on the effect of heterogeneity in macroeconomic issues, including the behavior of heterogeneous firms or consumers, the effect on investment, savings, efficiency of fiscal policy, redistribution, etc. Some papers analyzed the behavior of dynamic models with a large number of agents (often resorting to numerical simulations of the model), others addressed these issues from a more empirical point of view.