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Recursive methods offer a powerful approach in dynamic macroeconomics. This book contains both an introduction to recursive tools, including standard applications such as asset pricing, and advanced material, including analyses of reputational mechanisms and contract design. The tools are presented with enough technical sophistication to get the reader started working on practical problems. When numerical simulations are called for, the book provides suggestions for how to proceed, as well as references for further reading. The applications cover many substantive issues in macroeconomics, such as equilibrium asset prices, market incompleteness, wealth distribution, fiscal-monetary theories of inflation, government debt, optimal labor and capital taxation, time consistency and credible government policies, optimal social insurance, economic growth, and labor market dynamics.

Prof Arne Ljungqvist (MD, PhD), who represented Sweden at high jump at the Helsinki Olympics in 1952, is one of world sports most influential administrators. He has held several of the most important posts in sport and anti-doping, including being chair of both the International Olympic Committee's and the IAAF's Medical Commissions at a time when more and more drug cheats started being caught and the sport of track and field was caught up in a maelstrom of controversy. When the World Anti-Doping Agency was formed in in 1999 largely as a result of these problems, Ljungqvist was appointed as chair of the body's Health, Medical and Research Committee. In 2008, he was appointed as WADA's Vice President. It was Ljungqvist who sat opposite Ben Johnson at the Seoul Olympic doping clinic in 1988 after the Canadian sprinter tested positive for drugs. The subsequent Dubin enquiry in Canada ripped open the secretive world of sports doping. Ljungqvist was also involved in the Marion Jones case when the sprinter who won five medals at the Sydney Olympics twelve years later finally admitted she had taken drugs and was stripped of her medals.

Prof Arne Ljungqvist (MD, PhD), who represented Sweden at high jump at the Helsinki Olympics in 1952, is one of world sports most influential administrators. He has held several of the most important posts in sport and anti-doping, including being chair of both the International Olympic Committee's and the IAAF's Medical Commissions at a time when more and more drug cheats started being caught and the sport of track and field was caught up in a maelstrom of controversy. When the World Anti-Doping Agency was formed in in 1999 largely as a result of these problems, Ljungqvist was appointed as chair of the body's Health, Medical and Research Committee. In 2008, he was appointed as WADA's Vice President. It was Ljungqvist who sat opposite Ben Johnson at the Seoul Olympic doping clinic in 1988 after the Canadian sprinter tested positive for drugs. The subsequent Dubin enquiry in Canada ripped open the secretive world of sports doping. Ljungqvist was also involved in the Marion Jones case when the sprinter who won five medals at the Sydney Olympics twelve years later finally admitted she had taken drugs and was stripped of her medals.