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Author: Robert B. Litterman
Publisher:
ISBN:
Category : Federal Reserve banks
Languages : en
Pages : 41
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Book Description
Using optimal control theory and a vector autoregressive representation of the relationship between money and interest rates, one can derive a feedback control procedure which defines the best possible tradeoff between interest rate volatility and money supply fluctuations and which could be used to reduce both from their current levels.
Author: Robert B. Litterman
Publisher:
ISBN:
Category : Federal Reserve banks
Languages : en
Pages : 41
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Book Description
Using optimal control theory and a vector autoregressive representation of the relationship between money and interest rates, one can derive a feedback control procedure which defines the best possible tradeoff between interest rate volatility and money supply fluctuations and which could be used to reduce both from their current levels.
Author: E.N. Chukwu
Publisher: CRC Press
ISBN: 1482264846
Category : Mathematics
Languages : en
Pages : 392
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Book Description
Students and researchers in applied mathematics and applied economics can use this introductory-level graduate text. It looks at the current problems of the development of the global economy by studying the dynamics of key economic variables, such as gross national product, interest rates, employment, value of capital stock, prices (inflation) and
Author: E.N. Chukwu
Publisher: CRC Press
ISBN: 9780415269667
Category : Mathematics
Languages : en
Pages : 412
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Book Description
Students and researchers in applied mathematics and applied economics can use this introductory-level graduate text. It looks at the current problems of the development of the global economy by studying the dynamics of key economic variables, such as gross national product, interest rates, employment, value of capital stock, prices (inflation) and balance of payments. Validation of the model is attempted using the economic time series of several countries. The constructed models explain the macroeconomic data of nations as dynamic games of pursuit, which are equivalent to "control" problems and are used to study mathematical optimal control of the growth of the wealth of nations. This invaluable reference for graduates and researchers compares the extent of government intervention in the economy with private firms to ensure the controllability of the economy.
Author: Volker Wieland
Publisher:
ISBN:
Category :
Languages : en
Pages : 264
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Book Description
Author: Y. Murata
Publisher: Springer Science & Business Media
ISBN: 1461257379
Category : Business & Economics
Languages : en
Pages : 210
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Book Description
As our title reveals, we focus on optimal control methods and applications relevant to linear dynamic economic systems in discrete-time variables. We deal only with discrete cases simply because economic data are available in discrete forms, hence realistic economic policies should be established in discrete-time structures. Though many books have been written on optimal control in engineering, we see few on discrete-type optimal control. More over, since economic models take slightly different forms than do engineer ing ones, we need a comprehensive, self-contained treatment of linear optimal control applicable to discrete-time economic systems. The present work is intended to fill this need from the standpoint of contemporary macroeconomic stabilization. The work is organized as follows. In Chapter 1 we demonstrate instru ment instability in an economic stabilization problem and thereby establish the motivation for our departure into the optimal control world. Chapter 2 provides fundamental concepts and propositions for controlling linear deterministic discrete-time systems, together with some economic applica tions and numerical methods. Our optimal control rules are in the form of feedback from known state variables of the preceding period. When state variables are not observable or are accessible only with observation errors, we must obtain appropriate proxies for these variables, which are called "observers" in deterministic cases or "filters" in stochastic circumstances. In Chapters 3 and 4, respectively, Luenberger observers and Kalman filters are discussed, developed, and applied in various directions. Noticing that a separation principle lies between observer (or filter) and controller (cf.
Author: Kioumars Paryani
Publisher:
ISBN:
Category : Control theory
Languages : en
Pages : 316
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Book Description
Author: Victoria Miroshnik
Publisher: Springer
ISBN: 1137508957
Category : Business & Economics
Languages : en
Pages : 193
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Book Description
Dynamic Systems Modelling and Optimal Control explores the applications of oil field development, energy system modelling, resource modelling, time varying control of dynamic system of national economy, and investment planning.
Author: Yury Shestopalov
Publisher: Cambridge Scholars Publishing
ISBN: 1527528812
Category : Language Arts & Disciplines
Languages : en
Pages : 261
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Book Description
This book explores the major techniques involved in optimization, control theory, and calculus of variations. The book serves as a concise contemporary guide to optimal control theory, optimization, numerical methods and beyond. As such, it is a valuable source to learn mathematical modeling and the mathematical nature of optimization and optimal control. The presence of a variety of exercises solved down to numerical values is one of the main characteristic features of the book. Another one is its compactness, and the material’s usefulness in preparing and teaching several different university courses. The investigation of trends and their formation undertaken in the book leads seamlessly into extrapolation techniques and rigorous methods of scientific prediction. The research for this book was accomplished at the Russian Technological University (RTU) MIREA, based on the courses which have been taught at the RTU for many years.
Author: Georges Zaccour
Publisher: Springer Science & Business Media
ISBN: 1461510473
Category : Business & Economics
Languages : en
Pages : 242
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Book Description
Optimal control and differential games continue to attract strong interest from researchers interested in dynamical problems and models in management science. This volume explores the application of these methodologies to new as well as to classical decision problems in management sciences and economics. In Part I, optimal control and dynamical systems approaches are used to analyze problems in areas such as monetary policy, pollution control, relationship marketing, drug control, debt financing, and ethical behavior. In Part II differential games are applied to problems such as oligopolistic competition, common resource management, spillovers in foreign direct investments, marketing channels, incentive strategies, and the computation of Markov perfect Nash equilibria. Optimal Control and Differential Games is an excellent reference for researchers and graduate students covering a wide range of emerging and revisited problems in management science.
Author: S. Holly
Publisher: Springer
ISBN: 134916092X
Category : Business & Economics
Languages : en
Pages : 310
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Book Description
