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Readings for next time

posted Jan 26, 2012, 7:37 PM by Jim Dolmas
Attached are the Lucas and Mehra-Prescott papers. We're going to hold off Weil, until either Lecture 4 or 5.  At that point we'll talk about Epstein-Zin (or Kreps-Porteus) preferences, and then it'll be easier to discuss the Weil result.

Lucas's paper, as I said, has a lot of mathematical machinery in it.  Try, if possible, not to get hung up on that, and just focus on understanding the structure of the model.

Mehra and Prescott is much more accessible.

As you read, be thinking about how you would represent the models simply in p=E(mx) form.


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Jim Dolmas,
Jan 26, 2012, 7:37 PM
Ċ
Jim Dolmas,
Jan 26, 2012, 7:37 PM
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