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...September christopher d carroll aggregation for dummies macroeconomists consider an economy populated by a set of agents distributed uniformly along the unit interval with total population mass that is i probability distribution function f and elsewere cdf on therefore implying aggregate agent s value variable at date t thus consumption c z di ct idi similar notation applies to other variables since normalized capital letters refer not only but also per capita divided rct if rf each individual innitesimally small can neglect eects its own actions aggregates blanchard lives many purposes assumption economic live forever useful it necessary be able analyze nite horizons introduced tractable framework permits analysis key issues posed lifetimes death independent age this calvo rm will change prices time elapsed last price most convenient formulation model one in which number dying individuals always equal newborn so remains constant discrete as above suppose alive arranged then person liv...