Solutions Manual for Recursive Methods in Economic Dynamics 1st Edition by Claudio Irigoyen, Esteban Rossi Hansberg, Mark Wright 9780674008885 067400888X
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Product details:
ISBN 10: 067400888X
ISBN 13: 9780674008885
Author: Claudio Irigoyen, Esteban Rossi Hansberg, Mark L. J. Wright
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.
Table of contents:
1 Introduction
2 An Overview
3 Mathematical Preliminaries
4 Dynamic Programming under Certainty
5 Applications of Dynamic Programming under Certainty
6 Deterministic Dynamics
7 Measure Theory and Integration
8 Markov Processes
9 Stochastic Dynamic Programming
10 Applications of Stochastic Dynamic Programming
11 Strong Convergence of Markov Processes
12 Weak Convergence of Markov Processes
13 Applications of Convergence Results for Markov Processes
14 Laws of Large Numbers
15 Pareto Optima and Competitive Equilibria
16 Applications of Equilibrium Theory
17 Fixed-Point Arguments
18 Equilibria in Systems with Distortions
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Tags: Claudio Irigoyen, Esteban Rossi Hansberg, Mark Wright, Recursive