000			02130nam a22002177a 4500
999			_c778 _d778
005			20211113113241.0
008			200918b ||||| |||| 00| 0 eng d
020			_a9780262038669
082			_aLJU
100			_aLjungqvist, Lars; _91943
245			_aRecursive macroeconomic theory
250			_a4th
260			_bThe MIT Press _aUSA _c2018
300			_axxxvii, 1437 p.
365			_aUSD _b120.00
520			_aSummary The substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matching models and identifies a common channel through which productivity shocks are magnified across a variety of matching models. Other chapters have been extended and refined. For example, there is new material on heterogeneous beliefs in both complete and incomplete markets models; and there is a deeper account of forces that shape aggregate labor supply elasticities in lifecycle models. The book is suitable for first- and second-year graduate courses in macroeconomics. Most chapters conclude with exercises; many exercises and examples use Matlab or Python computer programming languages.
650			_aRecursive functions _91944
650			_aMacroeconomics _91161
700			_aSargent, Thomas J. _91945
942			_2ddc _cBK