Numerical Methods In Economics by Kenneth L. JuddNumerical Methods In Economics by Kenneth L. Judd

Numerical Methods In Economics

byKenneth L. Judd

Hardcover | September 28, 1998

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To harness the full power of computer technology, economists need to use a broad range of mathematical techniques. In this book, Kenneth Judd presents techniques from the numerical analysis and applied mathematics literatures and shows how to use them in economic analyses. The book is divided into five parts. Part I provides a general introduction. Part II presents basics from numerical analysis on R^n, including linear equations, iterative methods, optimization, nonlinear equations, approximation methods, numerical integration and differentiation, and Monte Carlo methods. Part III covers methods for dynamic problems, including finite difference methods, projection methods, and numerical dynamic programming. Part IV covers perturbation and asymptotic solution methods. Finally, Part V covers applications to dynamic equilibrium analysis, including solution methods for perfect foresight models and rational expectation models. A website contains supplementary material including programs and answers to exercises.

Title:Numerical Methods In EconomicsFormat:HardcoverDimensions:656 pages, 9 × 7 × 1.19 inPublished:September 28, 1998Publisher:The MIT PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0262100711

ISBN - 13:9780262100717


From Our Editors

Kenneth Judd demonstrates how economic analyses can make use of techniques from numerical analysis and applied mathematics literatures. Numerical Methods in Economics covers topics such as linear equations, optimization, nonlinear equations, numerical integration and differentiation, approximation and Monte Carlo methods, perturbation and asymptotic solution methods and applications to dynamic equilibrium analysis.

Editorial Reviews

Kenneth Judd's book is a landmark that will establish him as one of the founding fathers of the nascent field of computational economics. The book is an impressive contribution not only for its breadth, but also for its mathematical depth and sophistication. But in the final analysis Numerical Methods in Economics is an eminently practical 'cookbook' filled with many clearly described recipes for solving a broad variety of models in fields ranging from economic theory, macroeconomics, to public economics. I would recommend that any serious economist have a copy of this book on their desk, regardless of whether their interest in theory or in applications. An understanding of effective numerical methods is quickly becoming an indispensable for doing any sort of high level work in economics.-John Rust, Department of Economics, Yale University