Solutions manual for Recursive methods in economic dynamics

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Title:

Author:

Irigoyen, Claudio.

ISBN:

9780674008885

Personal Author:

Irigoyen, Claudio.

Publication Information:

Cambridge, Mass. ; London : Harvard University Press, 2002.

Physical Description:

x, 291 p. ; 24 cm.

Contents:

An overview -- Mathematical preliminaries -- Dynamic programming under certainty -- Applications of dynamic programming under certainty -- Deterministic dynamics -- Measure theory and integration -- Markov processes -- Stochastic dynamic programming -- Applications of stochastic dynamic programming -- Strong convergence of Markov processes -- Weak convergence of Markov processes -- Applications of convergence results for Markov processes -- Laws of large numbers -- Pareto optima and competitive equilibria -- Applications of equilibrium theory -- Fixed-point arguments -- Equilibria in systems with distortions.

Subject Term:

Economics, Mathematical.

Recursive functions.

Dynamic programming.

Added Author:

Rossi-Hansberg, Esteban.

Wright, Mark L. J.

Added Uniform Title:

Recursive methods in economic dynamics.

Copies:

Available:*

Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... IIEMSA	General Books	33168025546496	330.0151 I.68S 2002	1	Searching... Unknown

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Summary

This solutions manual is a valuable companion volume to the classic textbook Recursive Methods in Economic Dynamics by Nancy L. Stokey, Robert E. Lucas, Jr., and Edward C. Prescott. The exercises in the Stokey et al. book are integral to the text, and thus, a reader cannot fully appreciate the text without understanding the results developed in the exercises. This manual provides detailed answers to the central exercises in Recursive Methods .

The authors' selection of exercises is designed to maximize the reader's understanding of Recursive Methods . Solutions are presented to every question in the core chapters on recursive methods, as well as most questions from the chapters on mathematical background. Some questions from the chapters on applications of these techniques to economic models have been reserved so as to provide instructors with a crucial "test bank" of questions.

Efficient and lucid in approach, this manual will greatly enhance the value of Recursive Methods as a text for self-study.