Entropic consideration plays the essential role in understanding equilibrium in the macroeconomy comprising heterogeneous agents. Curiously, it has been long ignored in economics. In fact, the idea of ...

Explore TLT's dependency on long-term rates (R*) over short-term Fed rates. Click for my review of interest rates and how the ...

iii. Dynamic Stochastic General Equilibrium Models : Real Business Cycles, applications to models of heterogeneous agents and open economy. Fiscal policy analysis. iv. Monetary Economics: models with ...