Customer Reviews

Recursive Macroeconomic Theory

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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 :)

This text is perhaps the most accessible introduction to modern macroeconomics available. What I feel to be the greatest contributions of the text are the problems-- in each chapter, they start from the basics and build upon one another until you are formulating elaborate models that are the basis for much of the current discourse in the literature. The approaches used are so powerful and the questions tackled so varied that you cannot help believing that the recursive method is the future, not only for traditional issues in macroeconomics, but throughout the discipline. Hey, the book stands out so much, I decided to write a review!

Sargent continues his tradition of applying new methods to get to the bottom of macroeconomic phenom'ns. Should get the Nobel one of these years for work in rational expectations and macroeconimcs econometric techniques.

This book is much more readible than Sargent's dynamic macroeconomic. It explains all the mordern Dynamic macroeconomic theory in accesible way. Authors also introduce simple numerical methods. If you were dissapointed with Sargent's book,you will be satisfied with this.

The book is one of the best in macroeconomic field. However, it is good as an advanced macroeconomic book. It is suitable for grad level. The book contains a lot of math and stats. So the reader need to have good knowledge of macro, math and stat at undergrad level before reading this 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.

This is a great book. But you can download the second addition free on Sargent's website, so I wouldn't recommend buying it.

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.