Recursive Macroeconomic Theory

, by ;
Recursive Macroeconomic Theory by Ljungqvist, Lars; Sargent, Thomas J., 9780262038669
Note: Supplemental materials are not guaranteed with Rental or Used book purchases.
  • ISBN: 9780262038669 | 0262038668
  • Cover: Hardcover
  • Copyright: 9/11/2018

  • Rent

    (Recommended)

    $74.16
    Rent Book Button
     
    Term
    Due
    Price
    *This item is part of an exclusive publisher rental program and requires an additional convenience fee. This fee will be reflected in the shopping cart.
  • Buy New

    Special Order: 1-2 Weeks

    $116.42
    Buy New Button
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.

You might also enjoy...

Loading Icon

Please wait while the item is added to your bag...
Continue Shopping Button
Checkout Button
Loading Icon
Continue Shopping Button