52 citations · 119 across the 24 of their papers we have counts for
7 papers · 1 filter
Dynamic Programming: Finite States
Thomas J. Sargent, John Stachurski
This book is about dynamic programming and its applications in economics, finance, and adjacent fields. It brings together recent innovations in the theory of dynamic programming a…
Economic Networks: Theory and Computation
Thomas J. Sargent, John Stachurski
This textbook is an introduction to economic networks, intended for students and researchers in the fields of economics and applied mathematics. The textbook emphasizes quantitativ…
Firm Entry and Exit with Unbounded Productivity Growth
John Stachurski
In Hopenhayn's (1992) entry-exit model productivity is bounded, implying that the predicted firm size distribution cannot match the power law tail observable in the data. In this p…
Coase Meets Bellman: Dynamic Programming for Production Networks
Tomoo Kikuchi, Kazuo Nishimura, John Stachurski +1
We show that competitive equilibria in a range of models related to production networks can be recovered as solutions to dynamic programs. Although these programs fail to be contra…
Dynamic Programming with State-Dependent Discounting
John Stachurski, Junnan Zhang
This paper extends the core results of discrete time infinite horizon dynamic programming to the case of state-dependent discounting. We obtain a condition on the discount factor p…
Dynamic Programming with Recursive Preferences: Optimality and Applications
Guanlong Ren, John Stachurski
This paper provides new conditions for dynamic optimality in discrete time and uses them to establish fundamental dynamic programming results for several commonly used recursive pr…
An Impossibility Theorem for Wealth in Heterogeneous-agent Models with Limited Heterogeneity
John Stachurski, Alexis Akira Toda
It has been conjectured that canonical Bewley--Huggett--Aiyagari heterogeneous-agent models cannot explain the joint distribution of income and wealth. The results stated below ver…