Economic Dynamics in Discrete Time

Description

A unified, comprehensive, and up-to-date introduction to the analytical and numerical tools for solving dynamic economic problems. This book offers a unified, comprehensive, and up-to-date treatment of analytical and numerical tools for solving dynamic economic problems. The focus is on introducing recursive methods-an important part of every economist's set of tools-and readers will learn to apply recursive methods to a variety of dynamic economic problems. The book is notable for its combination of theoretical foundations and numerical methods. Each topic is first described in theoretical terms, with explicit definitions and rigorous proofs; numerical methods and computer codes to implement these methods follow. Drawing on the latest research, the book covers such cutting-edge topics as asset price bubbles, recursive utility, robust control, policy analysis in dynamic New Keynesian models with the zero lower bound on interest rates, and Bayesian estimation of dynamic stochastic general equilibrium (DSGE) models. The book first introduces the theory of dynamical systems and numerical methods for solving dynamical systems, and then discusses the theory and applications of dynamic optimization. The book goes on to treat equilibrium analysis, covering a variety of core macroeconomic models, and such additional topics as recursive utility (increasingly used in finance and macroeconomics), dynamic games, and recursive contracts. The book introduces Dynare, a widely used software platform for handling a range of economic models; readers will learn to use Dynare for numerically solving DSGE models and performing Bayesian estimation of DSGE models. Mathematical appendixes present all the necessary mathematical concepts and results. Matlab codes used to solve examples are indexed and downloadable from the book's website. A solutions manual for students is available for sale from the MIT Press; a downloadable instructor's manual is available to qualified instructors.

Details

Author(s)
Jianjun Miao
Format
Hardback | 736 pages
Dimensions
178 x 229 x 32mm | 1,220.16g
Publication date
12 Sep 2014
Publisher
MIT Press Ltd
Imprint
MIT Press
Publication City/Country
Cambridge, Mass., United States
Language
English
Illustrations note
68 figures, 4 tables; 72 Illustrations, unspecified
ISBN10
0262027615
ISBN13
9780262027618
Bestsellers rank
506,501

Warning: fopen(/home/clark/irondownload.com/public_html/includes/../datas/recent-view-books.txt): failed to open stream: Permission denied in /home/clark/irondownload.com/public_html/includes/write_recent.5.6-7.0.php on line 36

Warning: fwrite() expects parameter 1 to be resource, boolean given in /home/clark/irondownload.com/public_html/includes/write_recent.5.6-7.0.php on line 37

Warning: fclose() expects parameter 1 to be resource, boolean given in /home/clark/irondownload.com/public_html/includes/write_recent.5.6-7.0.php on line 38