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Recursive Methods In Economic Dynamics,New
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Three Eminent Economists Provide In This Book A Rigorous, Selfcontained Treatment Of Modern Economic Dynamics. Nancy L. Stokey, Robert E. Lucas, Jr., And Edward C. Prescott Develop The Basic Methods Of Recursive Analysis And Emphasize The Many Areas Where They Can Usefully Be Applied.After Presenting An Overview Of The Recursive Approach, The Authors Develop Economic Applications For Deterministic Dynamic Programming And The Stability Theory Of Firstorder Difference Equations. They Then Treat Stochastic Dynamic Programming And The Convergence Theory Of Discretetime Markov Processes, Illustrating Each With Additional Economic Applications. They Also Derive A Strong Law Of Large Numbers For Markov Processes. Finally, They Present The Two Fundamental Theorems Of Welfare Economics And Show How To Apply The Methods Developed Earlier To General Equilibrium Systems.The Authors Go On To Apply Their Methods To Many Areas Of Economics. Models Of Firm And Industry Investment, Household Consumption Behavior, Longrun Growth, Capital Accumulation, Job Search, Job Matching, Inventory Behavior, Asset Pricing, And Money Demand Are Among Those They Use To Show How Predictions Can Be Made About Individual And Social Behavior. Researchers And Graduate Students In Many Areas Of Economics, Both Theoretical And Applied, Will Find This Book Essential.
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- Q: How many pages does this book have? A: This book has six hundred eight pages. It provides an in-depth exploration of modern economic dynamics.
- Q: What is the binding type of this book? A: This book is a hardcover edition. The hardcover binding ensures durability and a professional appearance.
- Q: What are the dimensions of this book? A: The dimensions are six point fourteen inches in length, one point five inches in width, and nine point twenty-five inches in height. These measurements make it a standard size for academic texts.
- Q: Who are the authors of this book? A: The authors are Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott. They are renowned economists known for their contributions to economic theory.
- Q: What is the main subject of this book? A: The main subject is economic dynamics. It covers both deterministic and stochastic approaches to dynamic programming.
- Q: Is this book suitable for beginners in economics? A: No, this book is not particularly suitable for beginners. It is intended for researchers and graduate students with a solid foundation in economics.
- Q: How can I apply the concepts learned from this book? A: You can apply the concepts to various areas such as investment models, consumption behavior, and asset pricing. It provides practical applications of recursive methods in economics.
- Q: What level of economics knowledge do I need to understand this book? A: You need an advanced level of economics knowledge to understand this book. It is designed for readers familiar with economic dynamics and mathematical methods.
- Q: Can I use this book for self-study? A: Yes, you can use this book for self-study. However, it may be more beneficial with a background in economic theory and guidance from instructors.
- Q: How should I care for this hardcover book? A: Keep the book in a dry, cool place to avoid damage. Avoid exposing it to direct sunlight and handle it gently to preserve its condition.
- Q: Is this book safe for all audiences? A: Yes, this book is safe for all audiences. It contains academic content suitable for scholars and students.
- Q: What if the book arrives damaged? A: If the book arrives damaged, you should contact the seller for return or replacement options. Most sellers have policies in place for damaged items.
- Q: Does this book have any special features? A: No, this book does not have special features. It focuses solely on delivering rigorous content without additional multimedia or interactive components.
- Q: How can I find additional resources on the topics covered in this book? A: You can find additional resources by checking academic journals, economic databases, and the references provided in the book.
- Q: Is this book frequently cited in academic work? A: Yes, this book is frequently cited in academic work. It is considered a foundational text in the field of economic dynamics.
- Q: Does the book include exercises or problems? A: No, this book does not include exercises or problems. It is primarily focused on theoretical explanations and applications.