Recursive Macroeconomic Theory, Fourth Edition, with Lars Ljungqvist, MIT Press, 2018. Other new material includes a multi-country analysis of taxation in a growth model, elaborations of the fiscal theory of the price level, and age externalities in a matching model. 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.

*David Romer, Advanced Macroeconomics, fourth edition, Chapter 2. This third edition offers substantial new material, with three entirely new chapters and significant revisions to others. ��Տ�A� The tools are presented with enough technical sophistication to get the reader started working on practical problems. Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. A closely related set of material is available on theQuantitative Economicswebsite by Sargent and Stachurski. W. (2008). 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 of inflation, government debt, optimal labor and capital taxation, time consistency and credible government policies, optimal social insurance, economic growth, and labor market dynamics. 29): Chapter 3 Dynamic Programming (pg. We use essential cookies to perform essential website functions, e.g. 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.
MIT Press Direct is a distinctive collection of influential MIT Press books curated for scholars and libraries worldwide. Many exercises and examples use Matlab programs, which are cited in a special index at the end of the book. ), Recursive Macroeconomic Theory by Lars Ljungqvist and Thomas J. Sargent, MIT Press, fourth edition, 2018, chapters 1-7, Recursive Methods in Dynamic Economics by Nancy Stokey and Robert E. Lucas, Harvard University Press, 1989. Lars Ljungqvist is Professor of Economics at the Stockholm School of Economics. >> These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. An introduction to recursive tools, including standard applications such as asset pricing, and advanced material, including analyses of reputational mechanisms and contract design. Course notes for the first half of ECON-GA 1025 – Macroeconomic Theory I, Fall Semester 2018. As Alexander the Great is said to have always kept a copy of the Iliad under his pillow, I think the modern macroeconomist would do well to keep a copy of this excellent work close at hand.

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[1] Sargent and Ljunqvist. 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.

MIT Press began publishing journals in 1970 with the first volumes of Linguistic Inquiry and the Journal of Interdisciplinary History. Recursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic macroeconomics. Recursive Macroeconomic Theory thoroughly works through a wide variety of applications of recursive methods to the analysis of central themes in macroeconomics. Econometric Analysis. Once you have been 'Bellmanized' by this book, your life as an economist will never be the same.

Recursive methods offer a powerful approach in dynamic macroeconomics.

3): Part II Tools (pg. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. 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. ISBN 0-262-19451-1 1. International Affairs, History, & Political Science, Recursive Macroeconomic Theory, Fourth Edition, Recursive Macroeconomic Theory, Third Edition, Recursive Macroeconomic Theory, Second Edition.

Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. William C. Norby Professor of Economics, University of Chicago, Lars Ljungqvist and Thomas J. Sargent, https://mitpress.mit.edu/books/recursive-macroeconomic-theory-fourth-edition, International Affairs, History, & Political Science, Recursive Macroeconomic Theory, Second Edition, Recursive Macroeconomic Theory, Fourth Edition. ,H�_|��Y�'3��d*���b�h����#�S㜢B���O�nD��5�&�.S�ĭ"c�����,Ǘ� %��څ�eS-�8�C:.�r�ퟣ�{��Ȑ���>}����}�ǝF=��n %���� 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.

MIT Press began publishing journals in 1970 with the first volumes of Linguistic Inquiry and the Journal of Interdisciplinary History. Recursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic macroeconomics. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory Second edition. Most chapters conclude with exercises and the book includes two technical appendixes covering functional analysis and control and filtering. Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive Macroeconomic Theory Second edition. Recursive Macroeconomic Theory by Lars Ljungqvist and Thomas J. Sargent, MIT Press, fourth edition, 2018, chapters 1-7 Recursive Methods in Dynamic Economics by Nancy Stokey and Robert E. Lucas, Harvard University Press, 1989 The tools are presented with enough technical sophistication to get the reader started working on practical problems. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. To our parents, Zabrina, and Carolyn. Exercises in Recursive Macroeconomic Theory preliminary and incomplete Stijn Van Nieuwerburgh Pierre-Olivier Weill Lars Ljungqvist Thomas J. Sargent Recursive methods offer a powerful approach in dynamic macroeconomics. MIT Press began publishing journals in 1970 with the first volumes of Linguistic Inquiry and the Journal of Interdisciplinary History. Exercises in Recursive Macroeconomic Theory preliminary and incomplete Stijn Van Nieuwerburgh Pierre-Olivier Weill Lars Ljungqvist Thomas J. Sargent Recursive Models of Dynamic Linear Economies, with Lars Peter Hansen, Princeton University Press, 2013. Other new material includes a multi-country analysis of taxation in a growth model, elaborations of the fiscal theory of the price level, and age externalities in a matching model. The book is suitable for first- and second-year graduate courses in macroeconomics. Learn more, We use analytics cookies to understand how you use our websites so we can make them better, e.g. The book is suitable for first- and second-year graduate courses in macroeconomics. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. 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. Title. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies.


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