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Filtering And Control Of Macroeconomic Systems
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Book Synopsis Filtering and Control of Macroeconomic Systems by : M.J.M. Rao
Download or read book Filtering and Control of Macroeconomic Systems written by M.J.M. Rao and published by Elsevier. This book was released on 2013-10-22 with total page 292 pages. Available in PDF, EPUB and Kindle. Book excerpt: Advances in computer technology, coupled with the sophistication of econometric modelling, have enabled rapid progress in the formulation and solution of optimal control and filtering programmes, especially in the sphere of macroeconomic policy designing. These developments in systems methodology have prompted the need for an interface between optimal control theory and dynamic macroeconomic analysis. The implications of this convergence have already aroused a great deal of research, but it remains to be seen whether policy makers in most developing countries will consider actually incorporating these techniques into planning. The author argues that control and systems theory can be of immense help in stabilizing those economies plagued by cyclical and structural problems. By demonstrating the applicability of control & filter theory to short-term macroeconomic planning, this book illuminates the impressive array of problems that can thereby be solved, and helps foster a closer working relationship between economists and control theorists. The work deals specifically with the construction of a Kalman filter mechanism, for deriving short-term optimal economic policies under conditions of uncertainty. It specifies and resolves a macroeconometric model which is linked to a unique observation sub-system of a given economy, congruent with the errors in information signalling which are prevalent within the data base context of most developing countries. An evaluation of control settings contrasts short and long-term economic policies. This indicates that an economy may `overheat' under protracted settings of instrument values around their optimal levels if the constraints on the system, in the form of external shocks, are too great to allow reaching all targets simultaneously using feasible instrument paths.
Book Synopsis Filtering and Control of Macroeconomic Systems by : M. J. Manohar Rao
Download or read book Filtering and Control of Macroeconomic Systems written by M. J. Manohar Rao and published by . This book was released on 1987 with total page 279 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Observers and Macroeconomic Systems by : Ric D. Herbert
Download or read book Observers and Macroeconomic Systems written by Ric D. Herbert and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 329 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Macro-economic Regulation by : Keshav P. Vishwakarma
Download or read book Macro-economic Regulation written by Keshav P. Vishwakarma and published by Gower Publishing Company, Limited. This book was released on 1974 with total page 112 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Optimal Control Methods for Linear Discrete-Time Economic Systems by : Y. Murata
Download or read book Optimal Control Methods for Linear Discrete-Time Economic Systems written by Y. Murata and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 210 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Book Synopsis Macro-economic Regulation; a Control System for Incorporating the Kalman Filter for the Netherlands [by] Keshav P. Vishwakarma by : Keshav P. Vishwakarma
Download or read book Macro-economic Regulation; a Control System for Incorporating the Kalman Filter for the Netherlands [by] Keshav P. Vishwakarma written by Keshav P. Vishwakarma and published by . This book was released on with total page 91 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Elements of Robust Control and Filtering for Macroeconomics by : Lars Peter Hansen
Download or read book Elements of Robust Control and Filtering for Macroeconomics written by Lars Peter Hansen and published by . This book was released on 2000 with total page 196 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Analysis and Control of Dynamic Economic Systems by : Gregory C. Chow
Download or read book Analysis and Control of Dynamic Economic Systems written by Gregory C. Chow and published by John Wiley & Sons. This book was released on 1975 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: ANALYSIS OF DYNAMIC ECONOMIC SYSTEMS; CONTROL OF DYNAMIC ECONOMIC SYSTEMS.
Book Synopsis Stochastic Control for Economic Models by : David A. Kendrick
Download or read book Stochastic Control for Economic Models written by David A. Kendrick and published by McGraw-Hill Companies. This book was released on 1981 with total page 264 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Cybernetics And Systems '90 - Proceedings Of The Tenth European Meeting On Cybernetics And Systems Research by : Robert Trappl
Download or read book Cybernetics And Systems '90 - Proceedings Of The Tenth European Meeting On Cybernetics And Systems Research written by Robert Trappl and published by World Scientific. This book was released on 1990-03-01 with total page 1130 pages. Available in PDF, EPUB and Kindle. Book excerpt: Contents:How Many "Demons" Do We Need? Endophysical Self-Creation of Material Structures and the Exophysical Mystery of Universal Libraries (G Kampis & O E Rössler)Some Implications of Re-Interpretation of the Turing Test for Cognitive Science and Artificial Intelligence (G Werner)Why Economic Forecasts will be Overtaken by the Facts (J D M Kruisinga)Simulation Methods in Peace and Conflict Research (F Breitenecker et al)Software Development Paradigms: A Unifying Concept (G Chroust)Hybrid Hierarchies: A Love-Hate Relationship Between ISA and SUPERC (D Castelfranchi & D D'Aloisi)AI for Social Citizenship: Towards an Anthropocentric Technology (K S Gill)Organizational Cybernetics and Large Scale Social Reforms in the Context of Ongoing Developments (E Bekjarov & A Athanassov)China's Economic Reform and its Obstacles: Challenges to a Large-Scale Social Experiment (J Hu & X Sun)Comparing Conceptual Systems: A Strategy for Changing Values as well as Institutions (S A Umpleby)and others Readership: Researchers in the fields of cybernetics and systems, artificial intelligence, economics and mathematicians.
Book Synopsis Modelling Macroeconomic Adjustment with Growth in Developing Economies by : Sushanta K. Mallick
Download or read book Modelling Macroeconomic Adjustment with Growth in Developing Economies written by Sushanta K. Mallick and published by Routledge. This book was released on 2018-08-13 with total page 167 pages. Available in PDF, EPUB and Kindle. Book excerpt: First published in 1999, this influential volume explores Macroeconomic Adjustment with a particular focus on India. Its inspiration originated from the introduction of stabilisation and structural adjustment policies in India in 1991. Mallick examines the application of this policy package by the International Monetary Fund and the World Bank to Developing Economies. First looking at the initial conditions and generators of imbalances, the appropriate policy framework for India’s initial conditions and structural characteristics is considered. While the effectiveness of the IMF had been strongly criticised, Mallick explains how it could be used more effectively. He argues that the programs applied are often contradictory and, using India as an example, examines the effects of policy reform on its trade sector, the repercussions on the direct economy and the costs associated with such policies in restoring stability and future economic growth, with particular support for the Vector Autoregression (VAR) framework. Mallick forwards a new structural model for policy purposes, evaluated for overall performance and optimal control.
Book Synopsis Econometric Decision Models by : Josef Gruber
Download or read book Econometric Decision Models written by Josef Gruber and published by Springer Science & Business Media. This book was released on 2013-06-29 with total page 629 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains a refereed selection of revised papers which were originally presented at the Second International Conference on Econometric Decision Models, University of Hagen (FernUni versitat). The conference was held in Haus Nordhelle, a meeting place in the mountainous area " Sauerland" , some 50 kilometers south of Hagen, on August 29 - September 1, 1989. Some details about this conference are given in the first paper, they need not be repeated here. The 40 papers included in this volume are organized in 10 "parts", shown in the table of contents. Included are such "fashionable" topics like "optimal control", "cointegration" and "rational expec tations models". In each part, the papers have been arranged alphabetically by author, unless there were good reasons for a different arrangement. To facilitate the decision making of the readers, all papers (except a few short ones) contain an abstract, a list of keywords and a table of contents. At the end of the proceedings volume, there is a list of authors. More than ten years ago, I began to organize meetings of econometricians, mainly called "seminar" or " colloquium". One major purpose of these meetings has always been to improve international cooperation of econometric model builders (and model users) from "the East" and "the West". Unprecedented changes to the better have taken place recently ("perestroika"). For a large fraction of participants from the Soviet Union, the 1989 conference was the first conference in a Western country.
Book Synopsis Nonlinear Stochastic Systems with Incomplete Information by : Bo Shen
Download or read book Nonlinear Stochastic Systems with Incomplete Information written by Bo Shen and published by Springer Science & Business Media. This book was released on 2013-01-06 with total page 255 pages. Available in PDF, EPUB and Kindle. Book excerpt: Nonlinear Stochastic Processes addresses the frequently-encountered problem of incomplete information. The causes of this problem considered here include: missing measurements; sensor delays and saturation; quantization effects; and signal sampling. Divided into three parts, the text begins with a focus on H∞ filtering and control problems associated with general classes of nonlinear stochastic discrete-time systems. Filtering problems are considered in the second part, and in the third the theory and techniques previously developed are applied to the solution of issues arising in complex networks with the design of sampled-data-based controllers and filters. Among its highlights, the text provides: • a unified framework for filtering and control problems in complex communication networks with limited bandwidth; • new concepts such as random sensor and signal saturations for more realistic modeling; and • demonstration of the use of techniques such as the Hamilton–Jacobi–Isaacs, difference linear matrix, and parameter-dependent matrix inequalities and sums of squares to handle the computational challenges inherent in these systems. The collection of recent research results presented in Nonlinear Stochastic Processes will be of interest to academic researchers in control and signal processing. Graduate students working with communication networks with lossy information and control of stochastic systems will also benefit from reading the book.
Book Synopsis Theory and Estimation of Macroeconomic Rationing Models by : H.R. Sneessens
Download or read book Theory and Estimation of Macroeconomic Rationing Models written by H.R. Sneessens and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 149 pages. Available in PDF, EPUB and Kindle. Book excerpt: Introducing his book "The Theory of UnemPloyment Reconsidered", Professor Malinvaud expressed several years ago his hope "to convey [his] strong belief that the reconsideration is a major step in the development of our science". In view of the stimulating effect this approach has on economic research, it seems now that many economists do indeed share Malinvaud's belief and are ready to devote their time and their skill to ensure the realization of that progress. This book, grown out of a Ph. D. thesis presented at the Universit~ Catholique de Louvain, aims at contributing in its own way to that venture. Looking towards econometric applications, it illustrates that a framework h la Malinvaud (i. e. based on the theory of temporary equilibrium with rationing) provides the means of improving macro econometric modelling. There has been so far a wide and pervasive fear that, despite its analytical and theoretical usefulness, the quantity rationing approach would be much too complex to be successfully implemented into econometric models. The research the interested reader will discover in the subsequent pages should convince him that the difficulty faced by econometricians is essentially (I am tempted to say merely) one of developing an adequate methodology; it should thus disappear once is made the initial research investment. The empirical results presented towards the end of the book, though prelim inary, already suggests that the effort is rewarding and should be continued. My debts are many.
Book Synopsis Law and Macroeconomics by : Yair Listokin
Download or read book Law and Macroeconomics written by Yair Listokin and published by Harvard University Press. This book was released on 2019-03-11 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: A distinguished Yale economist and legal scholar’s argument that law, of all things, has the potential to rescue us from the next economic crisis. After the economic crisis of 2008, private-sector spending took nearly a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach whose proven success is too rarely acknowledged. Harking back to New Deal regulatory agencies, Listokin proposes that we take seriously law’s ability to function as a macroeconomic tool, capable of stimulating demand when needed and relieving demand when it threatens to overheat economies. Listokin makes his case by looking at both positive and cautionary examples, going back to the New Deal and including the Keystone Pipeline, the constitutionally fraught bond-buying program unveiled by the European Central Bank at the nadir of the Eurozone crisis, the ongoing Greek crisis, and the experience of U.S. price controls in the 1970s. History has taught us that law is an unwieldy instrument of macroeconomic policy, but Listokin argues that under certain conditions it offers a vital alternative to the monetary and fiscal policy tools that stretch the legitimacy of technocratic central banks near their breaking point while leaving the rest of us waiting and wallowing.
Book Synopsis Modeling and Control of Economic Systems 2001 by : R. Neck
Download or read book Modeling and Control of Economic Systems 2001 written by R. Neck and published by Elsevier. This book was released on 2003-05-21 with total page 443 pages. Available in PDF, EPUB and Kindle. Book excerpt: This volume contains papers presented at the IFAC symposium on Modeling and control of Economic Systems (SME 2001), which was held at the university of Klagenfurt, Austria. The symposium brought together scientists and users to explore current theoretical developments of modeling techniques for economic systems. It contains a section of plenary, invited and contributed papers presented at the SME 2001 symposium. The papers presented in this volume reflect advances both in methodology and in applications in the area of modeling and control of economic systems.
Book Synopsis Currency Wars by : Jeffrey Yi-Lin Forrest
Download or read book Currency Wars written by Jeffrey Yi-Lin Forrest and published by Springer. This book was released on 2017-11-25 with total page 610 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book uses systemic thinking and applies it to the study of financial crises. It systematically presents how the systemic yoyo model, its thinking logic, and its methodology can be employed as a common playground and intuition to the study of money, international finance, and economic reforms. This book establishes theoretical backings for why some of the most employed interferences of the market and empirical experiences actually work. It has become urgent for economists and policy makers to understand how international speculative capital affects the economic security of various nations. By looking at the issues of monetary movement around the world, this book shows that there are clearly visible patterns behind the flows of capital, and that there are a uniform language and logic of reasoning that can be powerfully employed in the studies of international finance As shown in this book, many of the conclusions drawn on the basis of these visible patterns, language, and logic of thinking can be practically applied to produce tangible economic benefits. Currency Wars: Offense and Defense through Systemic Thinking is divided into six parts. The first part addresses issues related to systemic modeling of economic entities and processes and explains how a few policy changes can adjust the performance of the extremely complex economy. Part II of the book investigates the problem of how instabilities lead to opportunities for currency attacks, the positive and negative effects of foreign capital, and how international capital flows can cause disturbances of various degrees on a nation’s economic security. Part III examines how a currency war is initiated, why currency conflicts and wars are inevitable, and a specific way of how currency attacks can take place. In Part IV, the book shows how one nation can potential defend itself by manipulating exchange rate of its currency, how the nation under siege can protect itself against financial attacks by using strategies based on the technique of feedback, and develops a more general approach of self-defense. Part V focuses on issues related to the cleanup of the disastrous aftermath of currency attacks through using policies and reforms. Finally the book concludes in Part VI as it analyzes specific real-life cases and addresses the ultimate problem of whether or not currency wars can be avoided all together.
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