Recursive Models of Dynamic Linear Economies: 6 (The Gorman Lectures in Economics) - Softcover

Hansen, Lars Peter; Sargent, Thomas J.

Softcover

ISBN 10: 0691180733 ISBN 13: 9780691180731

Verlag: Princeton University Press, 2018

Über diesen Titel

Críticas

"Thomas J. Sargent, Winner of the 2011 Nobel Prize in Economics" "This book is chock full of results that will be useful to all interested in dynamic linear models, including material that will be novel to even the experienced macroeconomist. Buy it, read it, use it."---Kenneth D. West, Journal of Economic Literature "Lars Peter Hansen, Co-Winner of the 2013 Nobel Prize in Economics"

Reseña del editor

A common set of mathematical tools underlies dynamic optimization, dynamic estimation, and filtering. In Recursive Models of Dynamic Linear Economies, Lars Peter Hansen and Thomas Sargent use these tools to create a class of econometrically tractable models of prices and quantities. They present examples from microeconomics, macroeconomics, and asset pricing. The models are cast in terms of a representative consumer. While Hansen and Sargent demonstrate the analytical benefits acquired when an analysis with a representative consumer is possible, they also characterize the restrictiveness of assumptions under which a representative household justifies a purely aggregative analysis. Hansen and Sargent unite economic theory with a workable econometrics while going beyond and beneath demand and supply curves for dynamic economies. They construct and apply competitive equilibria for a class of linear-quadratic-Gaussian dynamic economies with complete markets. Their book, based on the 2012 Gorman lectures, stresses heterogeneity, aggregation, and how a common structure unites what superficially appear to be diverse applications. An appendix describes MATLAB programs that apply to the book's calculations.

Details zur Ausgabe

• Verlag: Princeton University Press
• Erscheinungsdatum: 2018
• ISBN 10: 0691180733
• ISBN 13: 9780691180731
• Einband: Tapa blanda
• Sprache: Englisch
• Anzahl der Seiten: 420