This book describes a remarkable and valuable collection of tools for the study of economic dynamics under uncertainty. Professor Miao explores the tractable formulation of stochastic models combined with methods for solving and analyzing such models. His book will be a valuable reference for researchers and students seeking a comprehensive treatment of important advances. -- Lars Peter Hansen, 2013 Nobel Laureate, Economics This book is a terrific and much-needed addition to the landscape of graduate textbooks on macroeconomics. It treats the core topic of dynamic stochastic general equilibrium models, spanning real business cycles all the way to New Keynesian models, and carefully detailing solution and estimation concepts and techniques. With its modern exposition of Dynare and the attention to numerical methods, the book is both encyclopedic as well as hands on. It will surely be in the hands of many graduate students as well as established colleagues for years to come. -- Harald Uhlig, Professor of Economics, University of Chicago Jianjun Miao's book provides a clear and comprehensive introduction to the analytical and numerical methods that make up the language of modern macroeconomic theory. The mix of theory, applications, and examples renders it an excellent learning tool. It is bound to become a standard reference on the subject. -- Jordi Gali, Director of CREI and Professor of Economics, Universitat Pompeu Fabra This book offers an invaluable service to the profession. No longer do students need multiple textbooks for graduate courses in macroeconomics. It is a much-needed graduate book that combines theory and application, both computational and empirical. The analysis is rigorous, yet highly accessible. -- Vincenzo Quadrini, Professor of Finance and Business Economics, Marshall School of Business, University of Southern California
Jianjun Miao is Professor of Economics at Boston University.
This book describes a remarkable collection of basic and advanced tools for the analysis of discrete-time dynamical systems, both deterministic and stochastic, that have been usefully applied to the study of economic dynamic models.-Mathematical Reviews