ENGLISH

Recursive Macroeconomic Theory

By Thomas J. Sargent , Lars Ljungqvist

Book information

Publisher
The MIT Press
Year
2000
ISBN
0262194511, 9780262194518
Language
english
Format
PDF
Filesize
5 MB (5149018 bytes)
Edition
2nd
Pages
737\1106
Topic
Economy
Time added
2015-01-28 13:36:39

Description

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 labor and capital taxation, time consistency and credible government policies, optimal social insurance, economic growth, and labor market dynamics.

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