Recursive Methods in Economic Dynamics
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.
Yazar | Nancy L. Stokey |
---|---|
Yayın Evi | Harvard University Press |
Dil | İngilizce |
Almanca İtalyanca ICON Group International, Inc. J B Boon J Saosa Türkçe J B SBoon Additional Contributors Book on Demand Ltd. Icon Group International Fransızca CreateSpace Independent Publishing Platform Leopold Classic Library Rusça İngilizce Gale, U.S. Supreme Court Records Emily Grace Independently published
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Baskı Detayları
Yazar | Nancy L. Stokey Robert E. Lucas Jr. |
---|---|
İsbn 10 | 0674750969 |
İsbn 13 | 978-0674750968 |
Yayın Evi | Harvard University Press |
Dil | İngilizce |
Boyutlar ve boyutlar | 16.71 x 4.55 x 24.13 cm |
tarafından gönderildi Recursive Methods in Economic Dynamics | 1 Temmuz 1989 |
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