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Recursive Models of Dynamic Linear Economies
Lars Peter Hansen
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Description for Recursive Models of Dynamic Linear Economies
Hardback. Demonstrates the analytical benefits acquired when an analysis with a representative consumer is possible, they also characterize the restrictiveness of assumptions under which a representative household justifies a purely aggregative analysis. Series: The Gorman Lectures in Economics. Num Pages: 424 pages, 20 line illus. BIC Classification: KCA; KCH. Category: (P) Professional & Vocational; (UP) Postgraduate, Research & Scholarly; (UU) Undergraduate. Dimension: 260 x 188 x 29. Weight in Grams: 928.
A common set of mathematical tools underlies dynamic optimization, dynamic estimation, and filtering. In Recursive Models of Dynamic Linear Economies, Lars Peter Hansen and Thomas Sargent use these tools to create a class of econometrically tractable models of prices and quantities. They present examples from microeconomics, macroeconomics, and asset pricing. The models are cast in terms of a representative consumer. While Hansen and Sargent demonstrate the analytical benefits acquired when an analysis with a representative consumer is possible, they also characterize the restrictiveness of assumptions under which a representative household justifies a purely aggregative analysis. Hansen and Sargent unite ... Read more
A common set of mathematical tools underlies dynamic optimization, dynamic estimation, and filtering. In Recursive Models of Dynamic Linear Economies, Lars Peter Hansen and Thomas Sargent use these tools to create a class of econometrically tractable models of prices and quantities. They present examples from microeconomics, macroeconomics, and asset pricing. The models are cast in terms of a representative consumer. While Hansen and Sargent demonstrate the analytical benefits acquired when an analysis with a representative consumer is possible, they also characterize the restrictiveness of assumptions under which a representative household justifies a purely aggregative analysis. Hansen and Sargent unite ... Read more
Product Details
Publisher
Princeton University Press United States
Number of pages
424
Format
Hardback
Publication date
2014
Series
The Gorman Lectures in Economics
Condition
New
Weight
927g
Number of Pages
424
Place of Publication
New Jersey, United States
ISBN
9780691042770
SKU
V9780691042770
Shipping Time
Usually ships in 7 to 11 working days
Ref
99-1
About Lars Peter Hansen
Lars Peter Hansen is the David Rockefeller Distinguished Service Professor at the University of Chicago, where he is also the research director of the Becker Friedman Institute. Thomas J. Sargent is professor of economics at New York University and a senior fellow at the Hoover Institution at Stanford University. His books include Rational Expectations and Inflation and The Conquest of ... Read more
Reviews for Recursive Models of Dynamic Linear Economies
Lars Peter Hansen, Co-Winner of the 2013 Nobel Prize in Economics Thomas J. Sargent, Winner of the 2011 Nobel Prize in Economics