Recursive methods offer a powerful approach in dynamic macroeconomics. This book contains both an introduction to recursive tools, including standard applications such as asset pricing, and advanced material, including analyses of reputational mechanisms and contract design. The tools are presented with enough technical sophistication to get the reader started working on practical problems. When numerical simulations are called for, the book provides suggestions for how to proceed, as well as references for further reading. The applications cover many substantive issues in macroeconomics, such as equilibrium asset prices, market incompleteness, wealth distribution, fiscal-monetary theories of inflation, government debt, optimal labour and capital taxation, time consistency and credible government policies, optimal social insurance, economic growth and labour market dynamics.
- ISBN10 6612100095
- ISBN13 9786612100093
- Publish Date 1 September 2004 (first published 21 August 2000)
- Publish Status Active
- Out of Print 21 April 2010
- Publish Country US
- Imprint MIT Press (MA)
- Format eBook
- Pages 1116
- Language English