This book argues that modern macroeconomics has completely overlooked the aggregate nature of the data. Standard models start with intertemporally maximizing agents and obtain dynamic equations linking economic variables like consumption, income, investment interest rate and employment. Such equations exhibit testable properties like cointegration, definite patterns of Granger causality, and restrictions on the parameters. The usual simplification that agents are identical leads to testing these properties directly on aggregate data. Here this simplification is systematically questioned. In Part I the homogeneity (...) assumption is tested using disaggregate data and strongly rejected. As shown in Part II, the consequence of introducing heterogeneity is that, apart from flukes, cointegration unidirectional Granger causality, restrictions on parameters do not survive aggregation: thus the claim that modern macroeconomics has solid microfoundations is unwarranted. However, it is argued in Part III that aggregation is not necessarily bad. Some important theory-based models that do not fit aggregate data well in their representative-agent version can be reconciled with aggregate data by introducing heterogeneity. (shrink)

Nel nostro mondo occidentale e urbanizzato i bambini subiscono forme di segregazione e controllo, al pari di altre categorie sociali altrettanto ‘scomode', perché ostacolano il cosiddetto ‘ordine morale del profitto e del consumo'. La casa, la scuola, i luoghi strutturati e sorvegliati delle attivitÀ del tempo libero, vengono presentati come il rifugio contro i pericoli della strada che č perciň interdetta ai bambini con ogni mezzo, compreso il coprifuoco. Ma la libera fruizione di uno spazio pubblico fatto di strade, piazze, (...) slarghi, aree vuote e marginali, č invece fondamentale per lo sviluppo delle capacitÀ sociali dei bambini. Uno dei tre principi della Carta ONU dei Diritti dell'infanzia, quello alla partecipazione e all'autonomia, č violato. (shrink)

On salue ici la naissance d’une nouvelle collection, Estudios Helénicos, consacrée au monde grec, que publient conjointement les presses universitaires de la Universidad de Sevilla et celle de la Universidad Autónoma de Madrid. L’A. de ce volume inaugural, maîtresse de conférences à la Universidad Complutense de Madrid, ainsi que les directeurs de la collection précitée, César Fornis Vaquero et José Pascual González, ont développé de solides carrières de recherche axées sur des sujets très di...

The word dona is an embarrassment here. If Agricola was appointed to ‘check the gifts of the temples’, that is, gifts which temples had received, it seems an odd restriction in a phrase which one would expect to refer to temple possessions in general. What the context, especially in the word sacrilegium, makes clear, as commentators have duly noted, is that the temples suffered losses through the plunder of their works of art by Nero and also by others, although the (...) result tended to obliterate the guilt of others. This was after the fire at Rome in A.D. 64. See H. Furneaux rev. J. G. C. Anderson , pp.55 f.; R. Till , p.62; I. Forni , p.108; R. M. Ogilvie and Ian Richmond , p.152. (shrink)

The word dona is an embarrassment here. If Agricola was appointed to ‘check the gifts of the temples’, that is, gifts which temples had received, it seems an odd restriction in a phrase which one would expect to refer to temple possessions in general. What the context, especially in the word sacrilegium, makes clear, as commentators have duly noted, is that the temples suffered losses through the plunder of their works of art by Nero and also by others, although the (...) result tended to obliterate the guilt of others. This was after the fire at Rome in A.D. 64. See H. Furneaux rev. J. G. C. Anderson, pp.55 f.; R. Till, p.62; I. Forni, p.108; R. M. Ogilvie and Ian Richmond, p.152. (shrink)