Recursive Methods in Economic Dynamics by Harvard University Press

	Title: Recursive Methods in Economic Dynamics Purchase Item Manufacturer: Harvard University Press List Price: $70.00 Our Price: $49.00
Customer Reviews:
Recursive Methods in Economic Dynamics by Harvard University Press math explanation
i refer this textbook to follow mathematical idea of macro dynamic programming. the excircises are helpful to deepen my understanding.
Recursive Methods in Economic Dynamics by Harvard University Press A reader
I have never, eve*r encountered a worse book in any field in my entire life. Ok, so chapter 4 and 9 are cute - but you know what, you really don't need to write a book to publish 30 pages of material that is actually worth reading. I had a clever teacher who once said: "If you want to pick mushrooms, go to the forest" - well, if you want to learn Math, take the bus and head to the math department. The presentation is completely unclear, there is no motivation and the math is treated in a ridiculusly simplified way. According to SLP, to prove a theorem, all you need to do is make assumptions - no need to motivate why you make them - that would be overkill, rather leave it to the reder to motivate (as an annoying exercise). I dream of the day a Mas-Collel of macro economics comes around and writes a comprehensive macro book. Until this day, I am left wiping my behind with chapter 1-3; 5-8; and 10-End. Oh well.
Recursive Methods in Economic Dynamics by Harvard University Press The first step in the methods
This book is a first great step into the theory and results that you need to really understand the technicalities behind current research on Dynamic General Equilibrium Macroeconomics. Further, it's an excellent complement of Sargent and Ljungqvist's Recursive Macroeconomic Theory.
Recursive Methods in Economic Dynamics by Harvard University Press Essential
Essential for understanding modern macroeconomic theory, for better or worse. Chapter 4 on Dynamic Programming under certainty and bounded returns is beautiful. I recommend using this book in conjunction with Sargent's RMT.
Recursive Methods in Economic Dynamics by Harvard University Press tough, terse, but worth the fight
This is a really challenging book, worth fighting through. Some of the exercises are impossible without outside help, so for self-study the solutions manual by Irigoyen, et al is essential.
Recursive Methods in Economic Dynamics by Harvard University Press Product Description
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.