Home | Amazing | Today | Tags | Publishers | Years | Account | Search 
Recursive Methods in Economic Dynamics

Buy
A magnificent work that is bound to have immense influence on the ways economists think about dynamic systems for many years to come. My own guess is that this book will eventually acquire the stature, say, of Hicks's Value and Capital or Samuelson's Foundations.
--Thomas J. Sargent, Hoover Institution

The book is a tour de force. The authors present a unified approach to the techniques and applications of recursive economic theory. The presentations of discrete-time dynamic programming and of Markov processes are authoritative. There is a wide-ranging series of examples drawn from all branches of the discipline, but with special emphasis on macroeconomics. In the short run, the book will be a vital reference in any advanced course in macroeconomic theory. In the long run, it may help to remove the traditional boundaries between microeconomic theory and macroeconomic theory.
--Andrew Caplin, Columbia University

This book is a wonderful collection of results on the techniques of dynamic programming with great applications to economics written by giants in the field.
--Sanford J. Grossman, University of Pennsylvania

This rigorous but brilliantly lucid book presents a self-contained treatment of modern economic dynamics. Stokey, Lucas, and Prescott develop the basic methods of recursive analysis and illustrate the many areas where they can usefully be applied.

After presenting an overview of the recursive approach, the authors develop economic applications for deterministic dynamic programming and the stability theory of first-order difference equations. They then treat stochastic dynamic programming and the convergence theory of discrete-time Markov processes, illustrating each with additional economic applications. They also derive a strong law of large numbers for Markov processes. Finally, they present the two fundamental theorems of welfare economics and show how to apply the methods developed earlier to general equilibrium systems.

The authors go on to apply their methods to many areas of economics. Models of firm and industry investment, household consumption behavior, long-run growth, capital accumulation, job search, job matching, inventory behavior, asset pricing, and money demand are among those they use to show how predictions can he made about individual and social behavior. Researchers and graduate students in economic theory will find this book essential.

About the Author

Robert E. Lucas, Jr., is the John Dewey Distinguished Service Professor of Economics at the University of Chicago. In 1995, he was awarded the Nobel Prize in Economics.
(HTML tags aren't allowed.)

HTML Utopia: Designing Without Tables Using CSS (Build Your Own)
HTML Utopia: Designing Without Tables Using CSS (Build Your Own)
As I wrote this book, I had in mind Web designers with at least a little experience
building sites, who are curious about how CSS can help them become more effective
designers. It is, then, aimed at a beginner to intermediate designer. I shall
assume a strong grasp of HTML, but that's about it.

We can look at Cascading
...
Java 2 Enterprise Edition 1.4 (J2EE 1.4) Bible
Java 2 Enterprise Edition 1.4 (J2EE 1.4) Bible
"One stop shopping for J2EE."
– Scott Ambler, Senior Consultant, Ronin International, Inc. and Author of Agile Modeling

If Java 2 Enterprise Edition 1.4 can do it, you can do it too...

You already know that Java 2 Enterprise Edition 1.4 makes your enterprise services more cost-effective, more adaptable,...

Web Analytics: An Hour a Day
Web Analytics: An Hour a Day
Develop a Successful Web Analytics Strategy

A Step-by-Step Guide

Learn web analytics the right way with this unique, thoroughly modern guide to today's web analytics challenges and opportunities. Written by an in-the-trenches practitioner, this...


New Economy Edge: Strategies and Techniques for Boosting Online Profitability
New Economy Edge: Strategies and Techniques for Boosting Online Profitability
Reports of the power of the internet - for businesses, customers and consumers - have swung violently in nature during the past decade. Some people claim that the ‘new economy’ is the greatest force since the onset of the Industrial Revolution, while others argue that this is hype, pointing to inflated share prices and business failures...
Videoblogging For Dummies
Videoblogging For Dummies

Eager to try this exciting new form of twenty-first century communication? This book makes it easy! A groundbreaking vlogger shows you what you need to get started, how to turn your text blog into a videoblog, how to make things easy for your adoring public, and even how to deal with little snags like stage...

Misunderstanding the Internet (Communication and Society)
Misunderstanding the Internet (Communication and Society)

The growth of the internet has been spectacular. There are now more 1.5 billion internet users across the globe, about one quarter of the world’s population. This is certainly a new phenomenon that is of enormous significance for the economic, political and social life of contemporary societies.

However, much popular and...

©2019 LearnIT (support@pdfchm.net) - Privacy Policy