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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.

Lars Ljungqvist, Thomas J. Sargent,Recursive Macroeconomic Theory (The MIT Press),The MIT Press,0262038668,Macroeconomics.,Recursive functions,Recursive functions.,Statics and dynamics (Social sciences),Statics and dynamics (Social sciences).,BUSINESS ECONOMICS,BUSINESS ECONOMICS / Economics / Macroeconomics,BUSINESS ECONOMICS / Economics / Theory,Business Economics/Economics - Macroeconomics,Business/Economics,Economics,Economics/Macroeconomics,Macroeconomics,Non-Fiction,PHILOSOPHY OF MATHEMATICS,Scholarly/Graduate,Textbooks (Various Levels),UNIVERSITY PRESS,United States,recursive methods; macroeconomics; macroeconomic dynamics; dynamic functions; recursive functions; time series; dynamic programming; competitive equilibria; Ricardian equivalence; fiscal policy; asset pricing; search; matching; unemployment; economic growth; optimal taxation; Stackelberg problems; Ramsey problems; insurance; international trade; lotteries; labor supply; government policy,recursive methods;macroeconomics;macroeconomic dynamics;dynamic functions;recursive functions;time series;dynamic programming;competitive equilibria;Ricardian equivalence;fiscal policy;asset pricing;search;matching;unemployment;economic growth;optimal taxation;Stackelberg problems;Ramsey problems;insurance;international trade;lotteries;labor supply;government policy,BUSINESS ECONOMICS / Economics / Macroeconomics,BUSINESS ECONOMICS / Economics / Theory,Business Economics/Economics - Macroeconomics,Macroeconomics

Recursive Macroeconomic Theory The MIT Press 9780262038669 Economics Books Reviews :

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.

Lars Ljungqvist, Thomas J. Sargent,Recursive Macroeconomic Theory (The MIT Press),The MIT Press,0262038668,Macroeconomics.,Recursive functions,Recursive functions.,Statics and dynamics (Social sciences),Statics and dynamics (Social sciences).,BUSINESS ECONOMICS,BUSINESS ECONOMICS / Economics / Macroeconomics,BUSINESS ECONOMICS / Economics / Theory,Business Economics/Economics - Macroeconomics,Business/Economics,Economics,Economics/Macroeconomics,Macroeconomics,Non-Fiction,PHILOSOPHY OF MATHEMATICS,Scholarly/Graduate,Textbooks (Various Levels),UNIVERSITY PRESS,United States,recursive methods; macroeconomics; macroeconomic dynamics; dynamic functions; recursive functions; time series; dynamic programming; competitive equilibria; Ricardian equivalence; fiscal policy; asset pricing; search; matching; unemployment; economic growth; optimal taxation; Stackelberg problems; Ramsey problems; insurance; international trade; lotteries; labor supply; government policy,recursive methods;macroeconomics;macroeconomic dynamics;dynamic functions;recursive functions;time series;dynamic programming;competitive equilibria;Ricardian equivalence;fiscal policy;asset pricing;search;matching;unemployment;economic growth;optimal taxation;Stackelberg problems;Ramsey problems;insurance;international trade;lotteries;labor supply;government policy,BUSINESS ECONOMICS / Economics / Macroeconomics,BUSINESS ECONOMICS / Economics / Theory,Business Economics/Economics - Macroeconomics,Macroeconomics

Recursive Macroeconomic Theory (The MIT Press) 9780262038669 Economics Books @

 

Product details Series The MIT Press Hardcover 1480 pages Publisher The MIT Press; fourth edition edition (September 11, 2018) Language English ISBN-10 0262038668

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