{"product_id":"recursive-models-of-dynamic-linear-lars-peter-hansen-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\u003eISBN-10:\u003c\/b\u003e 0691180733\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9780691180731\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Princeton University Press\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 07\/10\/2018\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 424\u003cbr\u003e\u003cb\u003eFormat:\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","brand":"Lars Peter Hansen","offers":[{"title":"Paperback","offer_id":43946957471999,"sku":"9780691180731","price":45.0,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/products\/img_bbfdd9c2-80bc-4c42-8da5-e1cd1a28f6d8.jpg?v=1681515900","url":"https:\/\/www.whiterainbookhouse.com\/products\/recursive-models-of-dynamic-linear-lars-peter-hansen-9780691180731","provider":"WR Book House","version":"1.0","type":"link"}