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Synopsis
"Judd's book is a masterpiece which will help transform the way economic theory is done. It harnesses the computer revolution in the service of economic theory by collecting together a whole array of numerical methods to simulate and quantify models that used to be purely algebraic and qualitative." -- Avinash K. Dixit, Sherrerd University Professor of Economics, Princeton University
To harness the full power of computer technology, economists need to use a broad range of mathematical techniques. In this book, Kenneth Judd presents techniques from the numerical analysis and applied mathematics literatures and shows how to use them in economic analyses.
The book is divided into five parts. Part I provides a general introduction. Part II presents basics from numerical analysis on Rn, including linear equations, iterative methods, optimization, nonlinear equations, approximation methods, numerical integration and differentiation, and Monte Carlo methods. Part III covers methods for dynamic problems, including finite difference methods, projection methods, and numerical dynamic programming. Part IV covers perturbation and asymptotic solution methods. Finally, Part V covers applications to dynamic equilibrium analysis, including solution methods for perfect foresight models and rational expectation models. A web site contains supplementary material including programs and answers to exercises.
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About the Author
Kenneth L. Judd is a Senior Fellow at the Hoover Institution.
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Numerical Methods in Economics
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The MIT Press (edition ), 1998
ISBN 10: 0262100711
ISBN 13: 9780262100717
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Numerical Methods in Economics
Published by
The MIT Press (edition ), 1998
ISBN 10: 0262100711
ISBN 13: 9780262100717
Used
Hardcover
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Numerical Methods in Economics
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Numerical Methods in Economics
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Numerical Methods in Economics
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Numerical Methods in Economics
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Numerical Methods in Economics (The MIT Press)
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Numerical Methods in Economics (The Mit Press)
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