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Recursive Models of Dynamic Linear Economies (Hardcover) Loot Price: R1,219
Discovery Miles 12 190
Recursive Models of Dynamic Linear Economies (Hardcover): Lars Peter Hansen, Thomas J Sargent

Recursive Models of Dynamic Linear Economies (Hardcover)

Lars Peter Hansen, Thomas J Sargent

Series: The Gorman Lectures in Economics

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Loot Price R1,219 Discovery Miles 12 190 | Repayment Terms: R114 pm x 12*

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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(r) programs that apply to the book's calculations.

General

Imprint: Princeton University Press
Country of origin: United States
Series: The Gorman Lectures in Economics
Release date: December 2013
First published: 2014
Authors: Lars Peter Hansen • Thomas J Sargent
Dimensions: 254 x 178 x 29mm (L x W x T)
Format: Hardcover - Trade binding
Pages: 424
ISBN-13: 978-0-691-04277-0
Categories: Books > Business & Economics > Economics > Economic theory & philosophy
Books > Business & Economics > Economics > Econometrics > General
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LSN: 0-691-04277-2
Barcode: 9780691042770

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