Recursive Macroeconomic Theory
Title | Recursive Macroeconomic Theory PDF eBook |
Author | Lars Ljungqvist |
Publisher | MIT Press |
Total Pages | 1120 |
Release | 2004 |
Genre | Business & Economics |
ISBN | 9780262122740 |
A significant new edition of a text that offers both tools and sample applications; extensive revisions and seven new chapters improve and expand upon the original treatment.
Recursive Macroeconomic Theory, fourth edition
Title | Recursive Macroeconomic Theory, fourth edition PDF eBook |
Author | Lars Ljungqvist |
Publisher | MIT Press |
Total Pages | 1477 |
Release | 2018-09-11 |
Genre | Business & Economics |
ISBN | 0262038668 |
The substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matching models and identifies a common channel through which productivity shocks are magnified across a variety of matching models. Other chapters have been extended and refined. For example, there is new material on heterogeneous beliefs in both complete and incomplete markets models; and there is a deeper account of forces that shape aggregate labor supply elasticities in lifecycle models. The book is suitable for first- and second-year graduate courses in macroeconomics. Most chapters conclude with exercises; many exercises and examples use Matlab or Python computer programming languages.
Recursive Methods in Economic Dynamics
Title | Recursive Methods in Economic Dynamics PDF eBook |
Author | Nancy L. Stokey |
Publisher | Harvard University Press |
Total Pages | 607 |
Release | 1989-10-10 |
Genre | Business & Economics |
ISBN | 0674735188 |
This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied.
Solutions Manual for Recursive Methods in Economic Dynamics
Title | Solutions Manual for Recursive Methods in Economic Dynamics PDF eBook |
Author | Claudio IRIGOYEN |
Publisher | Harvard University Press |
Total Pages | 304 |
Release | 2009-06-30 |
Genre | Business & Economics |
ISBN | 0674038967 |
This solutions manual is a companion volume to the classic textbook Recursive Methods in Economic Dynamics by Nancy L. Stokey and Robert E. Lucas. Efficient and lucid in approach, this manual will greatly enhance the value of Recursive Methods as a text for self-study.
Macroeconomic Theory
Title | Macroeconomic Theory PDF eBook |
Author | |
Publisher | Emerald Group Pub Limited |
Total Pages | 510 |
Release | 1987 |
Genre | Business & Economics |
ISBN | 9780126197518 |
Macroeconomic Theory, in its first edition, was widely adopted for use as a graduate text; this updated and expanded version should find even greater popularity as a text and as a research reference. It has been substantially revised to include three entirely new chapters: The Consumption Function, Government Debt and Taxes, and Dynamic Optimal Taxation. Significant additions have been made to three of the original chapters dealing with difference equations, stochastic difference equations, and investment under uncertainty. Key Features * This book has been substantially revised to include three entirely new chapters on consumption, government debt and taxes, and dynamic optimal taxation * Significant additions have been made to three of the original chapters dealing with difference equations, stochastic difference equations, and investment under uncertainty
Recursive Macroeconomic Theory
Title | Recursive Macroeconomic Theory PDF eBook |
Author | Thomas J. Sargent |
Publisher | Createspace Independent Publishing Platform |
Total Pages | 630 |
Release | 2016-09-15 |
Genre | |
ISBN | 9781537653532 |
Recursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic macroeconomics. Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. The second edition contains substantial revisions to about half the original material, and extensive additional coverage appears in seven chapters new to this edition. The updated and added material covers exciting new topics that further illustrate the power and pervasiveness of recursive methods.Significant improvements to original chapters include a better treatment of the existence of recursive equilibria, an enhanced account of the supermartingale convergence theorem, and an extended treatment of an optimal taxation problem in an economy in which there are incomplete markets.
Robustness
Title | Robustness PDF eBook |
Author | Lars Peter Hansen |
Publisher | Princeton University Press |
Total Pages | 453 |
Release | 2016-06-28 |
Genre | Business & Economics |
ISBN | 0691170975 |
The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted? Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering this question. They adapt robust control techniques and apply them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book will be useful for macroeconomists who seek to improve the robustness of decision-making processes.