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Recursive Macroeconomic Theory

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ISBN-10: 0262194511

ISBN-13: 9780262194518

Edition: 2000

Authors: Lars Ljungqvist, Thomas J. Sargent

List price: $65.00
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Description:

Recursive methods offer a powerful approach in dynamic macroeconomics. This book contains both an introduction to recursive tools, including standard applications such as asset pricing, and advanced material, including analyses of reputational mechanisms and contract design. The tools are presented with enough technical sophistication to get the reader started working on practical problems. When numerical simulations are called for, the book provides suggestions for how to proceed, as well as references for further reading. The applications cover many substantive issues in macroeconomics, such as equilibrium asset prices, market incompleteness, wealth distribution, fiscal-monetary theories…    
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Book details

List price: $65.00
Copyright year: 2000
Publisher: MIT Press
Publication date: 8/21/2000
Binding: Hardcover
Pages: 737
Size: 7.25" wide x 9.50" long x 1.25" tall
Weight: 2.794
Language: English

Thomas J. Sargent is Donald Lucas Professor of Economics at Stanford University and Senior Fellow at the Hoover Institution. A pioneer of the rational expectations school of macroeconomics, he is the author of The Conquest of American Inflation (Princeton), Bounded Rationality in Macroeconomics, and Dynamic Macroeconomic Theory. François R. Velde is Senior Economist at the Federal Reserve Bank in Chicago and Lecturer in Economics at the University of Chicago.

Acknowledgements
Preface to the second edition
The imperialism of recursive methods
Overview
Tools
Time Series
Dynamic Programming
Practical Dynamic Programming
Linear-Quadratic Dynamic Programming
Search, Matching, and Unemployment
Competitive equilibria and applications
Recursive (Partial) Equilibrium
Equilibrium with Complete Markets
Overlapping Generations Models
Ricardian Equivalence
Fiscal Policies in the Growth Model
Recursive Competitive Equilibria
Asset Pricing
Economic Growth
Optimal Taxation with Commitment
The savings problem and Bewley models
Self-Insurance
Incomplete Markets Models
Recursive contracts
Dynamic Stackelberg Problems
Insurance Versus Incentives
Equilibrium without Commitment
Optimal Unemployment Insurance
Credible Government Policies
Two Topics in International Trade
Classical monetary economics and search
Fiscal-Monetary Theories of Inflation
Credit and Currency
Equilibrium Search and Matching
Technical appendixes
Functional Analysis
Control and Filtering
References
Index
Author Index
Matlab Index