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- DescriptionRecursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic macroecomics. Recursive Macroecomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. Only experience in solving practical problems fully conveys the power of the recursive approach, and the book provides many applications. This third edition offers substantial new material, with three entirely new chapters and significant revisions to others. The new content reflects recent developments in the field, further illustrating the power and pervasiveness of recursive methods. New chapters cover asset pricing empirics with possible resolutions to puzzles; analysis of credible government policy that entails state variables other than reputation; and foundations of aggregate labor supply with time averaging replacing employment lotteries. 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 both first- and second-year graduate courses in macroecomics and monetary ecomics. Most chapters conclude with exercises. Many exercises and examples use Matlab programs, which are cited in a special index at the end of the book.
- Author BiographyLars 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.
- Author(s)Lars Ljungqvist,Thomas J. Sargent
- PublisherMIT Press Ltd
- Date of Publication02/11/2012
- SubjectEconomics: Professional & General
- Place of PublicationCambridge, Mass.
- Country of PublicationUnited States
- ImprintMIT Press
- Content Note122 b&w illus.
- Weight2020 g
- Width178 mm
- Height229 mm
- Spine42 mm
- Edition Statement3rd Revised edition
- Interest AgeFrom 18
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