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Recursive Models of Dynamic Linear Economies (The Gorman Lectures in Economics Book 6) by Hansen, Lars Peter ;Sargent, Thomas J. is a nonfiction available to read on EtoBox.

What is Recursive Models of Dynamic Linear Economies (The Gorman Lectures in Economics Book 6) about?

A guide to the economic modeling of household preferences, from two leaders in the field 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 economic theory with a workable econometrics while going beyond and beneath demand and supply curves for dynamic economies. They construct and apply competitive equilibria for a class of linear-quadratic-Gaussian dynamic economies with complete markets. Their book, based on the 2012 Gorman lectures, stresses heterogeneity, aggregation, and how a common structure unites what superficially app

Who reads Recursive Models of Dynamic Linear Economies (The Gorman Lectures in Economics Book 6)?

Author

Hansen, Lars Peter ;Sargent, Thomas J.

Publisher

Princeton University Press

Published

2013

Language

EN

ISBN

9780691180731

Category

nonfiction

Subjects

Business, Economics, Science