Monday, August 25, 2008

Last Millenium's Textbooks

I've been idly staring at the pile of fresh textbooks arrived from Amazon, and it's hard to chase away from my mind that they're all old. The micro standard, MWG, is thirteen years old. Stokey/Lucas/Prescott is 19! Ljungqvist/Sargent is slightly better at 8, revised in 2004. Amemiya's Advanced Econometrics is older than I am, at 23!

I realize the latter is not a standard text (Wooldridge is also on the list, published 2001), but it's not exactly a collection of books which could embrace the cutting edge, especially factoring in that writing a book takes time - the draft of MWG was certainly not begun in 1995, for example.

Anyway, figured I'd throw that out there. To be sure, I don't know 99% of what's in these books, so I can't say too too much.

1 comment:

ei said...

Dude, you're using AWESOME textbooks, so stop complaining! Really!

Going over those will prepare you to read, produce and publish contemporary research in major journals. What more can you ask for? ;-)

Now, some other people use textbooks from the '70s and their macroeconomics textbook tries to do intertemporal macro with variational arguments and completely lacks dynamic programming or optimal control. Enough said, I think.