Recursive Macroeconomic Theory
Author: Lars Ljungqvist, Thomas J. Sargent
List Price: $65.00
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ISBN: 0262194511
Publisher: MIT Press (21 August, 2000)
Sales Rank: 55,519
Average Customer Rating: 4.5 out of 5
Customer Reviews
Rating: 5 out of 5
Perfect book
This is a perfect book for three reasons; i) it is perfect for those who wish to learn modern macroeconomics. The book develops necessary knowledge and tools to be applied to dynamic economics, ii) Sargent is one of most prominent and leading macroeconomists of the world, and he should be Nobel prize winner in Economics, iii) the book is published by MIT.
Rating: 4 out of 5
Not for beginners
When I recently left my job as cryer in a grim, north-eastern town, I was made the head of recursive macroeconomic theory at a major international bank. I could have done with a simpler introduction than this, to be honest, as my knowledge of RMT was limited. But now I hold my own in meetings simply by spouting a few long words from this book (mainly "macroeconomic" and "recursive" - theory doesn't seem to impress as much) and delegating to underlings.
Rating: 4 out of 5
Not the first book in Dynamic Macro, but excellent afterward
The first time i read the book, i'm sure this should not be the first text book for Dynamic Macroeconomics everyone should read. It's better to read somewhere else as an introduction to the idea of dynamic macroeconomics. Romer 'Advanced Macroeconomics' and Stokey, Lucas, Prescott 'Recursive Methods' are more appropriate to start. After gainning some similarity with Dynamic Methods, it would be much better to study models about macroeconomics presented in the book.This book is the presentations of various models using Dynamic / Recursive Macroeconomics. It makes them easier and time-saving to study many kinds of model in a semester. It's GOOD & HELPFUL IN THIS SENSE. However, it might not be a good book for study in depth. You are better to study from the original papers for the same topics.
I think, this book is similar to Tirole 'Theory of Industrial Organization' in spirit, but different in content. They both show the simplified version of various models in the fields.
If you think you like this style, you would like to have it. But if you don't, it might be better just to skim (from the library) and read the original papers.
Hope this comment would be helpful for you to make a decision :)
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