{"product_id":"recursive-models-of-dynamic-linear-economies-9780691180731","title":"Recursive Models of Dynamic Linear Economies","description":"\u003cp\u003e\u003cb\u003eA guide to the economic modeling of household preferences, from two leaders in the field\u003c\/b\u003e \u003c\/p\u003e\u003cp\u003e\u003c\/p\u003eA common set of mathematical tools underlies dynamic optimization, dynamic estimation, and filtering. In \u003ci\u003eRecursive Models of Dynamic Linear Economies\u003c\/i\u003e, 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. \u003cp\u003e\u003c\/p\u003eHansen 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 appear to be diverse applications. An appendix describes MATLAB programs that apply to the book's calculations.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e Lars Peter Hansen, Thomas J. Sargent\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Princeton University Press\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 07\/10\/2018\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 424\u003cbr\u003e\u003cb\u003eBinding Type:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 1.60lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 10.00h x 7.00w x 0.86d\u003cbr\u003e\u003cb\u003eISBN:\u003c\/b\u003e 9780691180731\u003cbr\u003e\u003cp\u003e\u003cb\u003eAbout the Author\u003c\/b\u003e\u003cbr\u003e\u003cb\u003eLars Peter Hansen\u003c\/b\u003e is the David Rockefeller Distinguished Service Professor at the University of Chicago, where he is also the research director of the Becker Friedman Institute. \u003cb\u003eThomas J. Sargent\u003c\/b\u003e is professor of economics at New York University and a senior fellow at the Hoover Institution at Stanford University. His books include \u003ci\u003eRational Expectations and Inflation\u003c\/i\u003e and \u003ci\u003eThe Conquest of American Inflation\u003c\/i\u003e (both Princeton). Hansen and Sargent are the coauthors of \u003ci\u003eRobustness\u003c\/i\u003e (Princeton). Sargent was awarded the Nobel Prize in economics in 2011 and Hansen received it in 2013.\u003cbr\u003e\u003c\/p\u003e","brand":"Princeton University Press","offers":[{"title":"Paperback","offer_id":40146681626739,"sku":"9.78E+12","price":47.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0555\/9255\/0515\/products\/img_b089ae75-48d5-48b0-9e6e-301553817d5e.jpg?v=1654695184","url":"https:\/\/bookstorenmore.com\/products\/recursive-models-of-dynamic-linear-economies-9780691180731","provider":"Bookstore N More","version":"1.0","type":"link"}