Recursive Macroeconomic Theory (S) - Hardcover

Ljungqvist, Lars

Hardcover

ISBN 10: 0262194511 ISBN 13: 9780262194518

Publisher: MIT Press, 2000

Synopsis

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 of inflation, government debt, optimal labour and capital taxation, time consistency and credible government policies, optimal social insurance, economic growth and labour market dynamics.

About this title

Review:

"This revised edition is an excellent resource, both for those interested in state-of-the-art research in macroeconomics and for those anxious to learn the tools that are used to do it."--Wouter J. Denhaan, Professor of Economics, London Business School " Recursive Macroeconomic Theory thoroughly works through a wide variety of applications of recursive methods to the analysis of central themes in macroeconomics. 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." Fernando Alvarez, Professor of Economics, University of Chicago "*Recursive Macroeconomic Theory* thoroughly works through a wide variety of applications of recursive methods to the analysis of central themes in macroeconomics. 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."--Fernando Alvarez, Professor of Economics, University of Chicago

About the Author:

Lars Ljungqvist is Professor of Economics at the Stockholm School of Economics. Thomas J. Sargent is Berkley Professor of Economics and Business at New York University and Senior Fellow at the Hoover Institution. He was the recipient of the 2011 Nobel Prize in Economics.

About this edition

• Publisher: MIT Press
• Publication date: 2000
• ISBN 10: 0262194511
• ISBN 13: 9780262194518
• Binding: Hardcover
• Number of pages: 738