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The Resource Recursive models of dynamic linear economies, Lars Hansen, Thomas J. Sargent

Recursive models of dynamic linear economies, Lars Hansen, Thomas J. Sargent

Label
Recursive models of dynamic linear economies
Title
Recursive models of dynamic linear economies
Statement of responsibility
Lars Hansen, Thomas J. Sargent
Creator
Contributor
Author
Subject
Language
eng
Summary
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. Based on the 2012 Gorman lectures, the authors 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 stresses heterogeneity, aggregation, and how a common structure unites what superficially appear to be diverse applications. An appendix describes MATLAB® programs that apply to the book's calculations --
Member of
Assigning source
Provided by Publisher
Cataloging source
DLC
http://library.link/vocab/creatorName
Hansen, Lars Peter
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
Sargent, Thomas J.
Series statement
The Gorman lectures in economics
http://library.link/vocab/subjectName
Economics
Label
Recursive models of dynamic linear economies, Lars Hansen, Thomas J. Sargent
Instantiates
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Contents
Acknowledgements -- Preface -- Overview -- Theory and econometrics -- Tools -- Linear stochastic difference equations -- Efficient computations -- Components of economies -- Economic environments -- Optimal resource allocations -- A commodity space -- Competitive economies -- Representations and properties -- Statistical representations -- Canonical household technologies -- Examples -- Permanent income models -- Gorman heterogeneous households -- Complete markets aggregation -- References -- Subject index -- Author index -- MATLAB index
Control code
FIEb17502494
Dimensions
27 cm.
Extent
xv, 399 pages
Isbn
9780691042770
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
System control number
  • (DLC) 2013016059
  • (OCoLC)841199201
Label
Recursive models of dynamic linear economies, Lars Hansen, Thomas J. Sargent
Publication
Bibliography note
Includes bibliographical references and index
Carrier category
volume
Carrier category code
  • nc
Carrier MARC source
rdacarrier.
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Contents
Acknowledgements -- Preface -- Overview -- Theory and econometrics -- Tools -- Linear stochastic difference equations -- Efficient computations -- Components of economies -- Economic environments -- Optimal resource allocations -- A commodity space -- Competitive economies -- Representations and properties -- Statistical representations -- Canonical household technologies -- Examples -- Permanent income models -- Gorman heterogeneous households -- Complete markets aggregation -- References -- Subject index -- Author index -- MATLAB index
Control code
FIEb17502494
Dimensions
27 cm.
Extent
xv, 399 pages
Isbn
9780691042770
Media category
unmediated
Media MARC source
rdamedia.
Media type code
  • n
System control number
  • (DLC) 2013016059
  • (OCoLC)841199201

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