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Exercises in Dynamic Macroeconomic Theory

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ISBN-10: 0674274768

ISBN-13: 9780674274761

Edition: 1987

Authors: Rodolfo E. Manuelli, Thomas J. Sargent

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Description:

This book is a companion volume to Dynamic Macroeconomic Theory by Thomas J. Sargent. It provides scrimmages in dynamic macroeconomic theory--precisely the kind of drills that people will need in order to learn the techniques of dynamic programming and its applications to economics. By doing these exercises, the reader can acquire the ability to put the theory to work in a variety of new situations, build technical skill, gain experience in fruitful ways of setting up problems, and learn to distinguish cases in which problems are well posed from cases in which they are not. The basic framework provided by variants of a dynamic general equilibrium model is used to analyze problems in…    
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Book details

Copyright year: 1987
Publisher: Harvard University Press
Publication date: 6/8/1987
Binding: Paperback
Pages: 224
Size: 6.25" wide x 9.50" long x 0.75" tall
Weight: 0.792
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.

Dynamic ProgrammingBrock-Mirman (1972)
Howard Policy-Improvement Algorithm Levhari-Srinivasan (1969)
Habit Persistence: 1 Habit
Persistence: 2 Lucas and Prescott (1971) and Kydland and Prescott (1982)
Meet a Linear Regulator
Interrelated Factor Demand Two-Sector Growth Models
Learning to Enjoy Spare Time Investment with Adjustment Costs
Investment with Signal Extraction
Search Being Unemployed with Only a Chance of an Offer
Two Offers per Period
A Random Number of Offers per Period Cyclical
Fluctuations in Number of Job Offers Choosing the Number of Offers
Mortensen Externality Variable
Labor Supply Wage Growth Rate and the Reservation
Wage Search with a Finite Horizon Finite
Horizon and Mean-Preserving Spread
Pissarides' Analysis of Taxation and Variable Search Intensity
Search and Nonhuman Wealth Search and Asset Accumulation
Asset Prices and Consumption Taxation and Stock Prices
Contingent Claims Prices in a Brock-Mirman
Economy Trees (Stocks) in the Utility Function
Government Debt in the Utility Function Tobin's q
A Generalization of Logarithmic Preferences
Arbitrage Pricing Modigliani-Miller Arbitrage Pricing and the Term
Structure of Interest Rates Pricing One-Period Options Pricing n-Period Options
Currency in the Utility Function (no exercises)
Cash-in-Advance Models Private Wealth Unpleasant Monetarist Arithmetic
A Permanent (McCallum) Government Deficit
A Useful Identity under Interest on Reserves
Defining the State Vector Computing an Equilibrium
Interest on Reserves and Stock Prices
Incentives for "Private Currencies" Other Interest-on-Reserve
Schemes Stock Prices and Inflation
Credit and Currency with Long-Lived Agents
Value of Unbacked Currency Computing Equilibrium
Interest Rates "Self-Insurance" and the Permanent Income Theory
The Distribution of Currency Rate-of-Return Dominance
Credit and Currency with Overlapping Generations
Credit Controls Inside Money and Real Bills
Social Security and the Price Level Seignorage Oscillating Physical Returns
Indeterminacy of Exchange Rates
Asset Prices and Volatility Unpleasant Monetarist Arithmetic Grandmont Bryant-Wallace
Government Finance in StochasticOverlapping-Generations Models
A Version of Kareken-Wallace Exchange Rate Indeterminacy
The Term Structure of State-Contingent Claims
Wairas's Law: 1
Wairas's Law: 2
Constancy of Fiscal Policy
Altered Version of Logarithmic
Preferences
Appendix
Functional Analysis for Macroeconomics
Periodic Difference Equation Asset Pricing
Index