An Application of Control Theory to Macroeconomic Policies in the Canadian Economy PDF Download

Author: Nicolas Jean Mathieu
Publisher:
ISBN:
Category :
Languages : en
Pages : 320

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Author: Nicolas J. Mathieu
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 320

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Author: Carlo Carraro
Publisher: Springer Science & Business Media
ISBN: 9400934955
Category : Business & Economics
Languages : en
Pages : 355

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Book Description
Giovanni Castellani Rector of the University of Venice This book contains the Proceedings of the Conference on "Economic Policy and Control Theory" which was held at the University of Venice (Italy) on 27 January-l February 1985. The goal of the Conference was to survey the main developments of control theory in economics, by emphasizing particularly new achievements in the analysis of dynamic economic models by con trol methods. The development of control theory is strictly related to the development of science and technology in the last forty years. Control theory was indeed applied mainly in engineering, and only in the sixties economists started using control methods for analys ing economic problems, even if some preliminary economic applica tions of calculus of variations, from which control theory was then developed, date back to the twenties. Applications of control theory in economics also had to solve new, complicated, problems, like those encountered in optimal growth models, or like the determination of the appropriate inter temporal social welfare function, of the policy horizon and the relative final state of the system, of the appropriate discount factor. Furthermore, the uncertainty characterizing economic models had to be taken into account, thus giving rise to the development of stochastic control theory in economics.

Author: Maria Luisa Petit
Publisher: Cambridge University Press
ISBN: 0521385237
Category : Business & Economics
Languages : en
Pages : 358

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This book deals with the stabilisation and control of centralised policy-making and its economic implications.

Author: Panos Afxentiou
Publisher: Springer Science & Business Media
ISBN: 1461510171
Category : Business & Economics
Languages : en
Pages : 214

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Book Description
Macroeconomic Policy in the Canadian Economy investigates developments in Canada over the last forty years, using recent advances in the field of applied econometrics. In particular, the book analyzes the theoretical foundations of public sector activities and evaluates the several theories of government growth. Issues of convergence are also investigated as they manifest themselves in per capita income across Canadian provinces, and as to how successful government income equalization policies have been in furthering such convergence. Moreover, the openness of the Canadian economy is investigated in terms of the importance of exports on GDP growth and of its participation in the world of an internationally integrated capital market. The book also analyzes monetary policy issues and investigates the role of monetary aggregates and the effectiveness of monetary policy. Finally, it addresses the issue of the existence or not of electoral and partisan cycles in Canada, by incorporating both fiscal and monetary principles and applying them to the lively world of Canadian politics.

Author: David Andrew Kendrick
Publisher: Springer Science & Business Media
ISBN: 9400927460
Category : Business & Economics
Languages : en
Pages : 147

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Book Description
In the past fifteen years a new field of research has emerged in economics: the application of control theory methods to macroeconomics and to microeconomics. The papers and books which have resulted from this research are important to the development of theoretical and applied economics. However, they are inaccessible to many with interest in economics because of the technical nature of the discussion. This book attempts to make the macro economic portion of this literature more accessible by providing a discussion of the key issues using words and figures rather than mathematical symbols. I would like to thank my mentors and colleagues in control theory and economics for their help over the years: Masanao Aoki, Michael Athans, Yaakov Bar-Shalom, Jeremy Bray, Arthur Bryson, Gregory Chow, Ray Fair, Laurie Henrikson, David Livesey, Raman Mehra, Alfred Norman, Robert Pindyck, Franklin Shupp, John Taylor, Lance Taylor, Peter Tinsley, Edison Tse, and Stephen Turnovsky.

Author: Dickson Akwasi Yeboah
Publisher: Peter Lang Group Ag, International Academic Publishers
ISBN:
Category : Business & Economics
Languages : en
Pages : 284

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Book Description
Control Theory is applied to the economy of a developing country to determine the best ways to achieve a set of economic policy objectives as indexed by a criterion function when the performance is judged over many years and when the dynamic behaviour of the system is subject to a set of constraints. Economic policy instruments are constrained and boundary conditions imposed to ensure that the solution path is reasonable. Control Theory does not only provide normative prescriptions to economic policy issues, but also serves as an important supplementary tool in the realm of economic forecasting. A priori knowledge of the various political, bureaucratic and administrative influences could provide the policy adviser with a vivid picture of the pressures that could muddy the waters for policy-makers in developing countries and which could shape priorities of economic policy.

Author: John A. Sawyer
Publisher:
ISBN:
Category : Canada
Languages : en
Pages : 424

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Author: David Andrew Kendrick
Publisher: Springer
ISBN: 9789401077330
Category : Business & Economics
Languages : en
Pages : 148

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Book Description
In the past fifteen years a new field of research has emerged in economics: the application of control theory methods to macroeconomics and to microeconomics. The papers and books which have resulted from this research are important to the development of theoretical and applied economics. However, they are inaccessible to many with interest in economics because of the technical nature of the discussion. This book attempts to make the macro economic portion of this literature more accessible by providing a discussion of the key issues using words and figures rather than mathematical symbols. I would like to thank my mentors and colleagues in control theory and economics for their help over the years: Masanao Aoki, Michael Athans, Yaakov Bar-Shalom, Jeremy Bray, Arthur Bryson, Gregory Chow, Ray Fair, Laurie Henrikson, David Livesey, Raman Mehra, Alfred Norman, Robert Pindyck, Franklin Shupp, John Taylor, Lance Taylor, Peter Tinsley, Edison Tse, and Stephen Turnovsky.

Author: Ric D. Herbert
Publisher: Springer Science & Business Media
ISBN: 1461555833
Category : Business & Economics
Languages : en
Pages : 329

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Book Description
Observers and Macroeconomic Systems is concerned with the computational aspects of using a control-theoretic approach to the analysis of dynamic macroeconomic systems. The focus is on using a separate model for the development of the control policies. In particular, it uses the observer-based approach whereby the separate model learns to behave in a similar manner to the economic system through output-injections. The book shows how this approach can be used to learn the forward-looking behaviour of economic actors which is a distinguishing feature of dynamic macroeconomic models. It also shows how it can be used in conjunction with low-order models to undertake policy analysis with a large practical econometric model. This overcomes some of the computational problems arising from using just the large econometric models to compute optimal policy trajectories. The work also develops visual simulation software tools that can be used for policy analysis with dynamic macroeconomic systems.