This book is a delightfully novel and thorough treatment of stochastic dynamic modeling. It builds on the well-known results as well as synthesizing the latest developments. Readers will find the many pictures and graphics as well as computer code and examples incredibly helpful. The book is beautifully written by a rapidly rising young star and is a must read for any economist and other researchers who want to learn the tools of dynamic stochastic modeling and apply these tools in their own research.
William A. Brock, Vilas Research Professor of Economics, The University of Wisconsin, Madison
Graduate macroeconomics courses are becoming technically more sophisticated every year. Currently, there are very few books available that introduce the necessary mathematical techniques to understand modern macroeconomics and that are comprehensible to the non mathematician. John Stachurski's book helps fill this void. It is easy to read—conversational in tone—and yet it does not shy away from difficult material. But the book is more than just an introduction to dynamics for the mathematically challenged graduate student. It will also be an invaluable aid to the researcher as a reference book on stochastic dynamics.
Roger Farmer, Department of Economics, UCLA
An invaluable monograph on stochastic dynamical systems that's ideally suited as a supplement for graduate courses in computational general equilibrium, macroeconomics, and asset pricing. The emphasis on economic illustrations and computational codes makes this volume a rich source of tools for students, instructors, and practitioners of economic dynamics.
Costas Azariadis, Mallinckrodt University Professor and Director, Center for Dynamic Economics, Washington University, St. Louis
John Stachurski has written the book that convincingly links theoretical models of discrete time, nonlinear growth models, and the simulation and computation of the applications of these models. He makes these growth models accessible to researchers through the connection of theory and technique. Economic Dynamics covers foundational material useful for students and researchers. I highly recommend this book.
Leonard J. Mirman, Department of Economics, University of Virginia
