Recursive Models of Dynamic Linear Economies by Lars Hansen, Thomas J. Sargent
: B0006SBYR4Number of pages
This book views many apparently disparate dynamic economic models as examples of a single class of models that can be adapted and specialized to study diverse economic phenomena. The class of models was created by using recent advances in (i) the theory of recursive dynamic competitive economies; (ii) methods for estimating and interpreting vector autoregression; (iii) linear optimal control theory; and (iv) computer languages for rapidly manipulating linear optimal control systems.
Business & Investing Economics Macroeconomics