PDF Ebook Recursive Macroeconomic Theory, by Lars Ljungqvist, Thomas J. Sargent
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Recursive Macroeconomic Theory, by Lars Ljungqvist, Thomas J. Sargent
PDF Ebook Recursive Macroeconomic Theory, by Lars Ljungqvist, Thomas J. Sargent
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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. Only experience in solving practical problems fully conveys the power of the recursive approach, and the book provides many applications. This third edition offers substantial new material, with three entirely new chapters and significant revisions to others. The new content reflects recent developments in the field, further illustrating the power and pervasiveness of recursive methods. New chapters cover asset pricing empirics with possible resolutions to puzzles; analysis of credible government policy that entails state variables other than reputation; and foundations of aggregate labor supply with time averaging replacing employment lotteries. Other new material includes a multi-country analysis of taxation in a growth model, elaborations of the fiscal theory of the price level, and age externalities in a matching model.The book is suitable for both first- and second-year graduate courses in macroeconomics and monetary economics. Most chapters conclude with exercises. Many exercises and examples use Matlab programs, which are cited in a special index at the end of the book.
- Sales Rank: #432825 in eBooks
- Published on: 2012-08-31
- Released on: 2012-08-31
- Format: Kindle eBook
Review
Lars Ljungqvist and Thomas Sargent's book provides comprehensive, how-to-do-it coverage of the methods of modern macroeconomic dynamics, illustrated with dozens of applications to real economic problems. It is both an encyclopedic, up-to-date reference and a practical teaching tool.
(Robert Lucas, University of Chicago; Nobel Laureate in Economic Sciences, 1995)I have used this book repeatedly in teaching first year graduate macroeconomics and it is truly a tour-de-force. It presents the issues in a clear way, analyzes them with precise mathematics, and, importantly, has exciting problems that are just begging for smart students to solve them. Graduate students that carefully read this book and do every exercise can call themselves well-educated in modern macroeconomics. All serious practicing macroeconomists should have a copy of this book on their shelves, and its pages should be well-worn.
(Patrick Kehoe, Department of Economics, University of Minnesota) About the Author
Lars Ljungqvist is Professor of Economics at the Stockholm School of Economics.
Thomas J. Sargent is Berkley Professor of Economics and Business at New York University and Senior Fellow at the Hoover Institution. He was the recipient of the 2011 Nobel Prize in Economics.
Most helpful customer reviews
1 of 1 people found the following review helpful.
Great Book
By Zisos Kyriazis
This is maybe the greatest book written in the field of Macroeconomics! It incorporates DSGE models for every topic in Macroeconomics. The book is for Ph.D. level students.
0 of 0 people found the following review helpful.
Five Stars
By Snow
Lucidly written book contains everything you should know about modern empirical macroeconomics
0 of 0 people found the following review helpful.
Five Stars
By Amazon Customer
Great
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