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. Topics include equilibrium asset prices, market incompleteness, wealth distribution, fiscal-monetary theories of inflation, government debt, and labor market dynamics. 50 illustrations.
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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. Topics include equilibrium asset prices, market incompleteness, wealth distribution, fiscal-monetary theories of inflation, government debt, and labor market dynamics. 50 illustrations.
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