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Recursive Models of Dynamic Linear Economies
Engelsk
Bogcover for Recursive Models of Dynamic Linear Economies af Lars Peter Hansen, Thomas J. Sargent, 9780691042770
Specifikationer
Sprog:
Engelsk
Sider:
424
ISBN-13:
9780691042770
Indbinding:
Hardback
Udgave:
ISBN-10:
0691042772
Udg. Dato:
26 dec 2013
Længde:
29mm
Bredde:
188mm
Højde:
260mm
Forlag:
Princeton University Press
Oplagsdato:
26 dec 2013
Hardback
Format:

Om denne bog

A guide to the economic modeling of household preferences, from two leaders in the field

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.




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Specifikationer
Sprog:
Engelsk
Sider:
424
ISBN-13:
9780691042770
Indbinding:
Hardback
Udgave:
ISBN-10:
0691042772
Udg. Dato:
26 dec 2013
Længde:
29mm
Bredde:
188mm
Højde:
260mm
Forlag:
Princeton University Press
Oplagsdato:
26 dec 2013
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