Recursive Macroeconomic TheoryMIT Press, 2004 - Počet stran: 1082 Recursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic macroeconomics. Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. The second edition contains substantial revisions to about half the original material, and extensive additional coverage appears in seven chapters new to this edition. The updated and added material covers exciting new topics that further illustrate the power and pervasiveness of recursive methods.Significant improvements to original chapters include a better treatment of the existence of recursive equilibria, an enhanced account of the supermartingale convergence theorem, and an extended treatment of an optimal taxation problem in an economy in which there are incomplete markets. Completely new coverage in the second edition includes an introductory chapter, which gives an overview of the themes uniting the diverse topics treated throughout the book. Two new chapters offer a self-contained account of the optimal growth model and some of its basic applications in macroeconomics and public finance. Other new chapters cover such topics as how to formulate and compute Stackelberg or Ramsey plans in linear economies, sustainable risk-sharing equilibria without commitment, and the application of recursive contracts to topics in international trade. Most chapters conclude with exercises and the book includes two technical appendixes covering functional analysis and control and filtering. |
Obsah
Overview | 3 |
currency 17 12 2 Explicit interest 17 12 3 The upper bound on | 17 |
closed economy 19 7 Concluding remarks A Historical development | 19 |
ary saving 1 3 3 Complete markets insurance and the distribution | 25 |
Time Series | 29 |
2 2 Asymptotic stationarity 2 2 3 Expectations 2 2 4 Fore | 66 |
Dynamic Programming | 85 |
Linear Quadratic Dynamic Programming | 109 |
SelfInsurance | 545 |
Incomplete Markets Models | 566 |
Dynamic Stackelberg Problems | 615 |
Insurance Versus Incentives | 636 |
Equilibrium without Commitment | 697 |
sion of the gains 20 6 Consumption distribution 20 6 1 Asymptotic | 719 |
amnesia overwhelms | 741 |
Credible Government Policies | 773 |
Value function iteration 5 2 2 Discounted linear regulator problem | 135 |
2 2 Meanpreserving spreads 6 3 McCalls model of intertem | 169 |
Recursive Partial Equilibrium | 191 |
Equilibrium with Complete Markets | 208 |
no aggregate uncertainty 8 6 3 Example 3 periodic | 231 |
Overlapping Generations Models | 264 |
Ricardian Equivalence | 312 |
2 2 Components of a competitive equilibrium 11 2 3 | 325 |
Recursive Competitive Equilibria | 366 |
Asset Pricing | 392 |
Economic Growth | 449 |
tors reproducible 14 5 1 Onesector model 14 5 2 Twosector model | 466 |
Recursive formulation 22 7 Subgame perfect equilibrium SPE 22 8 | 793 |
Selfenforcing SPE 22 10 1 The quest for something worse than rep | 806 |
Two Topics in International Trade | 820 |
FiscalMonetary Theories of Inflation | 857 |
Credit and Currency | 904 |
and endowments 25 3 Complete markets 25 3 1 A Pareto problem | 933 |
Equilibrium Search and Matching | 940 |
A Functional Analysis | 1005 |
Introduction B 2 The optimal linear regulator control problem | 1020 |
References | 1044 |
1072 | |
Další vydání - Zobrazit všechny
Recursive Macroeconomic Theory, fourth edition Lars Ljungqvist,Thomas J. Sargent Omezený náhled - 2018 |