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Item Details
| Title:
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RECURSIVE MODELS OF DYNAMIC LINEAR ECONOMIES
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| By: |
Lars Peter Hansen, Thomas J. Sargent |
| Format: |
Hardback |
| List price:
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£45.00 |
| Our price: |
£36.00 |
| Discount: |
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| You save:
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£9.00 |
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| ISBN 10: |
0691042772 |
| ISBN 13: |
9780691042770 |
| Availability: |
Usually dispatched within 1-3 weeks.
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| Stock: |
Currently 0 available |
| Publisher: |
PRINCETON UNIVERSITY PRESS |
| Pub. date: |
26 December, 2013 |
| Series: |
The Gorman Lectures in Economics |
| Pages: |
424 |
| Description: |
Demonstrates 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. |
| Synopsis: |
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.Hansen and Sargent 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, based on the 2012 Gorman lectures, 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. |
| Illustrations: |
20 line illus. |
| Publication: |
US |
| Imprint: |
Princeton University Press |
| Prizes: |
Winner of Nobel Prize in Economics 2011
Joint winner of Co-Winner of the 2013 Nobel Prize in Economics 2013 |
| Returns: |
Returnable |
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Ramadan and Eid al-Fitr
A celebratory, inclusive and educational exploration of Ramadan and Eid al-Fitr for both children that celebrate and children who want to understand and appreciate their peers who do.
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