Recursive Models of Dynamic Linear Economies
- List Price$46.95
- Your price$37.59
Save $9.36 (20% off) and earn Kobo Super Points!
You'll see how many points you'll earn before checking out. We'll award them after completing your purchase.
Or, get it for 19600 Kobo Super Points!
See if you have enough points for this eBook. Sign in
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.
Based on the 2012 Gorman lectures, the authors 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 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.
- Princeton University Press, December 2013
Princeton University Press
- Download options:
- EPUB 2 (Adobe DRM)
You can read this item using any of the following Kobo apps and devices: