This solutions manual is a valuable companion volume to the classic textbook Recursive Methods in Economic Dynamics by Nancy L. Stokey and Robert E. Lucas. The exercises in the Stokey and Lucas 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 crucual "test bank" of questions.
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
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 crucual "test bank" of questions.
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
Páginas : 304
Peso : 1mb.
Formato : PDF.
Edición : Primera
Año de Publicación :2003
ISBN : 978-0674008885
Editorial : Harvard University
Autor Claudio Irigoyen, Esteban Rossi-Hansberg
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