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Recursive Macroeconomic Theory, Fourth Edition by Thomas J. Sargent and Lars Ljungqvist (2018, Hardcover)

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About this product

Product Identifiers

PublisherMIT Press

ISBN-100262038668

ISBN-139780262038669

eBay Product ID (ePID)13038589212

Product Key Features

Number of Pages1480 Pages

Publication NameRecursive Macroeconomic Theory, Fourth Edition

LanguageEnglish

Publication Year2018

SubjectEconomic History, Economics / Macroeconomics, Logic, Economics / Theory, Economics / Comparative

TypeTextbook

Subject AreaMathematics, Business & Economics

AuthorThomas J. Sargent, Lars Ljungqvist

FormatHardcover

Dimensions

Item Height2.1 in

Item Weight77.1 Oz

Item Length9.4 in

Item Width7.4 in

Additional Product Features

Edition Number4

Intended AudienceTrade

LCCN2018-002500

Dewey Edition23

IllustratedYes

Dewey Decimal339.01/51135

SynopsisThe 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.

LC Classification NumberHB172.5.L59 2018