The substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matching models and identifies a common channel through which productivity shocks are magnified across a variety of matching models. Other chapters have been extended and refined. For example, there is new material on heterogeneous beliefs in both complete and incomplete markets models; and there is a deeper account of forces that shape aggregate labor supply elasticities in lifecycle models. The book is suitable for first- and second-year graduate courses in macroeconomics. Most chapters conclude with exercises; many exercises and examples use Matlab or Python computer programming languages.
The substantially revised fourth edition of a widely used text, offering both an introduction to recursive methods and advanced material, mixing tools and sample applications. Recursive methods provide powerful ways to pose and solve problems in dynamic macroeconomics. Recursive Macroeconomic Theory offers both an introduction to recursive methods and more advanced material. Only practice in solving diverse problems fully conveys the advantages of the recursive approach, so the book provides many applications. This fourth edition features two new chapters and substantial revisions to other chapters that demonstrate the power of recursive methods. One new chapter applies the recursive approach to Ramsey taxation and sharply characterizes the time inconsistency of optimal policies. These insights are used in other chapters to simplify recursive formulations of Ramsey plans and credible government policies. The second new chapter explores the mechanics of matching models and identifies a common channel through which productivity shocks are magnified across a variety of matching models. Other chapters have been extended and refined. For example, there is new material on heterogeneous beliefs in both complete and incomplete markets models; and there is a deeper account of forces that shape aggregate labor supply elasticities in lifecycle models. The book is suitable for first- and second-year graduate courses in macroeconomics. Most chapters conclude with exercises; many exercises and examples use Matlab or Python computer programming languages.
A substantially revised new edition of a widely used text, offering both an introduction to recursive methods and advanced material. Recursive methods offer a powerful approach for characterizing and solving complicated problems in dynamic macroeconomics. Recursive Macroeconomic Theory provides both an introduction to recursive methods and advanced material, mixing tools and sample applications. Only experience in solving practical problems fully conveys the power of the recursive approach, and the book provides many applications. This third edition offers substantial new material, with three entirely new chapters and significant revisions to others. The new content reflects recent developments in the field, further illustrating the power and pervasiveness of recursive methods. New chapters cover asset pricing empirics with possible resolutions to puzzles; analysis of credible government policy that entails state variables other than reputation; and foundations of aggregate labor supply with time averaging replacing employment lotteries. Other new material includes a multi-country analysis of taxation in a growth model, elaborations of the fiscal theory of the price level, and age externalities in a matching model. The book is suitable for both first- and second-year graduate courses in macroeconomics and monetary economics. Most chapters conclude with exercises. Many exercises and examples use Matlab programs, which are cited in a special index at the end of the book.
A significant new edition of a text that offers both tools and sample applications; extensive revisions and seven new chapters improve and expand upon the original treatment.
The standard theory of decision making under uncertainty advises the decision maker to form a statistical model linking outcomes to decisions and then to choose the optimal distribution of outcomes. This assumes that the decision maker trusts the model completely. But what should a decision maker do if the model cannot be trusted? Lars Hansen and Thomas Sargent, two leading macroeconomists, push the field forward as they set about answering this question. They adapt robust control techniques and apply them to economics. By using this theory to let decision makers acknowledge misspecification in economic modeling, the authors develop applications to a variety of problems in dynamic macroeconomics. Technical, rigorous, and self-contained, this book will be useful for macroeconomists who seek to improve the robustness of decision-making processes.
A guide to the economic modeling of household preferences, from two leaders in the field A common set of mathematical tools underlies dynamic optimization, dynamic estimation, and filtering. In Recursive Models of Dynamic Linear Economies, Lars Peter Hansen and Thomas Sargent use these tools to create a class of econometrically tractable models of prices and quantities. They present examples from microeconomics, macroeconomics, and asset pricing. The models are cast in terms of a representative consumer. While Hansen and Sargent demonstrate the analytical benefits acquired when an analysis with a representative consumer is possible, they also characterize the restrictiveness of assumptions under which a representative household justifies a purely aggregative analysis. Hansen and Sargent unite economic theory with a workable econometrics while going beyond and beneath demand and supply curves for dynamic economies. They construct and apply competitive equilibria for a class of linear-quadratic-Gaussian dynamic economies with complete markets. Their book, based on the 2012 Gorman lectures, stresses heterogeneity, aggregation, and how a common structure unites what superficially appear to be diverse applications. An appendix describes MATLAB programs that apply to the book's calculations.
As more and more people realize the cardiovascular, metabolic, and muscular benefits that regular physical activity provides, the risk for potential injury also increases. In order to provide successful treatment, all persons involved in the management of injury must have a thorough understanding of the healing process of the various tissues and also be familiar with the demands of different types of sports. Written by two world-renowned experts, Sports Injuries, Fourth Edition comprehensively covers the prevention, treatment, and rehabilitation of sports injuries. Essential reading for all athletes, coaches/trainers, physiotherapists, and doctors, the updated edition of this highly popular and well-established textbook skillfully integrates scientific background and evidence with practical application. Topics covered include: Individual risk factors for sports injuries Effects of physical inactivity on the tissues Head and face injuries in sport Cervical, thoracic and abdominal injuries in sport Back and spine injuries in sport Outdoor activities during extreme conditions Sports injuries of the lower and upper extremities Injuries in sport for the disabled Richly illustrated with more than 650 color drawings and photographs, this book covers injuries resulting from the full range of international sports. For each type of injury examined, it details the symptoms, mechanism of injury, diagnosis, treatment, rehabilitation protocols, and key points—clearly stating what both non-medical and medical professionals should do in each case of injury. This easy-to-follow textbook features a glossary of key terms and protocols with rehabilitation exercises to provide readers with a solid understanding about how to effectively treat, rehabilitate, and prevent sports injuries.
Principles of Yacht Design has established itself as the standard book on the subject for practising designers, naval architecture students, discerning boat owners as well as the boatbuilding industry as a whole. The fifth edition is completely revised and expanded. It examines every aspect of the process of yacht and powerboat design. The new edition includes new findings from recent research in aero and hydrodynamics, as well as covering the most recent changes to building standards. The authors have used a newly built 41-foot performance cruiser to demonstrate the practical application of yacht design theory. This new edition includes photos of the building process and detailed explanations.
Written by Lars Peter Hansen (Nobel Laureate in Economics, 2013) and Thomas Sargent (Nobel Laureate in Economics, 2011), Uncertainty within Economic Models includes articles adapting and applying robust control theory to problems in economics and finance. This book extends rational expectations models by including agents who doubt their models and adopt precautionary decisions designed to protect themselves from adverse consequences of model misspecification. This behavior has consequences for what are ordinarily interpreted as market prices of risk, but big parts of which should actually be interpreted as market prices of model uncertainty. The chapters discuss ways of calibrating agents' fears of model misspecification in quantitative contexts.
From fundamental principles to advanced subspecialty procedures, Miller’s Anesthesia covers the full scope of contemporary anesthesia practice. This go-to medical reference book offers masterful guidance on the technical, scientific, and clinical challenges you face each day, in addition to providing the most up-to-date information available for effective board preparation. Consult this title on your favorite e-reader, conduct rapid searches, and adjust font sizes for optimal readability. Address the unique needs of pediatric patients with guidance from an entire section on pediatric anesthesia. View more than 1,500 full-color illustrations for enhanced visual clarity. Access step-by-step instructions for patient management, as well as an in-depth analysis of ancillary responsibilities and problems. Quickly reference important concepts with ‘Key Points’ boxes integrated into every chapter. Stay current on today's most recent anesthetic drugs and guidelines/protocols for anesthetic practice and patient safety, and access expanded coverage on new techniques such as TEE and other monitoring procedures. Take advantage of the unique, international perspectives of prominent anesthesiologists from all over the world, including the UK, Australia, India, Brazil, and Germany. Remain at the forefront of new developments in anesthesia with coverage of hot topics including Non-OR Anesthesia; Role of the Anesthesiologist in Disasters; Sleep Medicine in Anesthesia; Perioperative and Anesthesia-related Neurotoxicity; Anesthetic Implications of Complementary and Alternative Medicine; and Robotics. Study brand-new chapters on Perioperative Fluid Management; Extracorporeal Support Therapies; Anesthesia for Organ Donation/Procurement; and Malignant Hyperthermia and other Genetic Disorders.
Tumba, Sweden. A triple homicide, all of the victims from the same family, captivates Detective Inspector Joona Linna, who demands to investigate the grisly murders - against the wishes of the national police. The killer is at large, and it appears that the elder sister of the family escaped the carnage; it seems only a matter of time until she, too, is murdered. But where can Linna begin? The only surviving witness is an intended victim - the boy whose mother, father, and little sister were killed before his eyes. Whoever committed the crimes intended for this boy to die - he has suffered more than one hundred knife wounds and Lapsed into a state of shock. He's in no condition to be questioned. Desperate for information, Linna sees one mode of recourse; hypnotism. He enlists Dr. Erik Maria Bark to mesmerize the boy, hoping to discover the killer through his eyes. It's the sort of work that Bark had sworn he would never do again-ethically dubious and psychically scarring. When he breaks his promise and hypnotizes the victim, a Long and terrifying chain of events begins to unfurl.
In this sequel to "The Hypnotist," Detective Joona Linna returns to investigate a series of interlinking murders surrounding a suspicious Swedish arms deal.
En död man hittas i en lägenhet i Oslo. När polisen öppnar frysboxen i köket gör de ett fruktansvärt fynd. Offret visar sig vara en dittills okänd gravskändare och trofésamlare. Några dagar senare kontaktar en tysk kommissarie Joona Linna och ber om hjälp med ett mordfall på en camping utanför Rostock. Joona förstår att mönstret som framträder är vansinnigt och samtidigt omöjligt att ignorera. Vissa skulle kalla det för ett mirakel om någon återvände från döden – andra skulle kalla det för en mardröm. Thrillermästaren Lars Kepler är tillbaka med den sjunde boken om Joona Linna.
Jurek Walter is serving a life sentence. Kept in solitary confinement, he is still considered extremely dangerous by psychiatric staff. Mikael knows him as 'the sandman'. Seven years ago, he was taken from his bed along with his sister. They are both presumed dead. When Mikael is discovered on a railway line, close to death, the hunt begins for his sister. To get to the truth, Detective Inspector Joona Linna will need to get closer than ever to the man who stripped him of a family; the man who wants Linna dead.
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