Recursive Methods in Economic Dynamics

Nancy L. Stokey

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Language: English

Published by Harvard University Press Mai 2011, 2011

0674750969 / 9780674750968

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Neuware - Three eminent economists provide in this book a rigorous, self-contained treatment of modern economic dynamics. Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott develop the basic methods of recursive analysis and emphasize the many areas where they can usefully be applied.After presenting an overview of the recursive approach, the authors develop economic applications for deterministic dynamic programming and the stability theory of first-order difference equations. They then treat stochastic dynamic programming and the convergence theory of discrete-time Markov processes, illustrating each with additional economic applications. They also derive a strong law of large numbers for Markov processes. Finally, they present the two fundamental theorems of welfare economics and show how to apply the methods developed earlier to general equilibrium systems.The authors go on to apply their methods to many areas of economics. Models of firm and industry investment, household consumption behavior, long-run growth, capital accumulation, job search, job matching, inventory behavior, asset pricing, and money demand are among those they use to show how predictions can be made about individual and social behavior. Researchers and graduate students in many areas of economics, both theoretical and applied, will find this book essential. …

Seller Inventory # 9780674750968

Title
Recursive Methods in Economic Dynamics
Author
Nancy L. Stokey
Publisher
Harvard University Press Mai 2011
Publication year
2011
Condition
Neu
Binding
Buch
Language
English
ISBN 10
0674750969
ISBN 13
9780674750968
Item weight
976 grams
Dimensions
243x165x48 mm

AHA-BUCH GmbH

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