This revised edition is an excellent resource, both for those interested in state-of-the-art research in macroeconomics and for those anxious to learn the tools that are used to do it.
Wouter J. Denhaan, Professor of Economics, London Business School
Teachers and students alike will find this book invaluable. It is a superb exposition of how the integration of microeconomics and macroeconomics provides a coherent way to think about dynamic economic behavior.
Mervyn King, Deputy Governor, Bank of England
This is a magnificent book, bringing together tractable recursive dynamics and a rich array macroeconomic applications. The authors make it insightful and natural for a reader, using the tools they've laid out, to go on to attack substantive and original research question after research question in dynamic macroeconomics.
Danny Quah, London School of Economics
Recursive Macroeconomic Theory thoroughly works through a wide variety of applications of recursive methods to the analysis of central themes in macroeconomics. As Alexander the Great is said to have always kept a copy of the Iliad under his pillow, I think the modern macroeconomist would do well to keep a copy of this excellent work close at hand.
Fernando Alvarez, Professor of Economics, University of Chicago
Dynamic macroeconomics in the 90's has been about introducing various kinds of market imperfections and heterogeneity in the models available before. This book teaches, in a comprehensive and understandable way, how to use and formualte those models. There is no other book like it at this time.
Albert Marcet, Department of Economics and Business, Universitat Pompeu