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Economic Dynamics in Discrete Time
Author: Jianjun Miao

ISBN: 9780262027618
Format: Hardcover
Number Of Pages: 736
Published: 4 September 2014
Country of Publication: US
Dimensions (cm): 22.9 x 17.8 x 2.5
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 meth...

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