Solutions Manual for Recursive Methods in Economic Dynamics

Häftad, Engelska, 2003

AvClaudio Irigoyen,Esteban Rossi-Hansberg,Mark L. J. Wright

529 kr

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This solutions manual is a valuable companion volume to the classic textbook Recursive Methods in Economic Dynamics by Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott. The exercises in the Stokey et al. book are integral to the text, and thus, a reader cannot fully appreciate the text without understanding the results developed in the exercises. This manual provides detailed answers to the central exercises in Recursive Methods.The authors’ selection of exercises is designed to maximize the reader’s understanding of Recursive Methods. Solutions are presented to every question in the core chapters on recursive methods, as well as most questions from the chapters on mathematical background. Some questions from the chapters on applications of these techniques to economic models have been reserved so as to provide instructors with a crucial “test bank” of questions.Efficient and lucid in approach, this manual will greatly enhance the value of Recursive Methods as a text for self-study.

Produktinformation

Utgivningsdatum2003-01-30
Mått156 x 235 x 15 mm
Vikt340 g
FormatHäftad
SpråkEngelska
Antal sidor304
FörlagHarvard University Press
ISBN9780674008885

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Foreword 1. Introduction 2. An Overview 3. Mathematical Preliminaries 4. Dynamic Programming under Certainty 5. Applications of Dynamic Programming under Certainty 6. Deterministic Dynamics 7. Measure Theory and Integration 8. Markov Processes 9. Stochastic Dynamic Programming 10. Applications of Stochastic Dynamic Programming 11. Strong Convergence of Markov Processes 12. Weak Convergence of Markov Processes 13. Applications of Convergence Results for Markov Processes 14. Laws of Large Numbers 15. Pareto Optima and Competitive Equilibria 16. Applications of Equilibrium Theory 17. Fixed-Point Arguments 18. Equilibria in Systems with Distortions

[Recursive Methods in Economic Dynamics] is a tour de force. The authors present a unified approach to the techniques and applications of recursive economic theory. The presentations of discrete-time dynamic programming and of Markov processes are authoritative. There is a wide-ranging series of examples drawn from all branches of the discipline, but with special emphasis on macroeconomics. In the short run, the book will be a vital reference in any advanced course in macroeconomic theory. In the long run, it may help to remove the traditional boundaries between microeconomic theory and macroeconomic theory.