Observers and Macroeconomic Systems
Ric D. Herbert
Broschiertes Buch

Observers and Macroeconomic Systems

Computation of Policy Trajectories with Separate Model Based Control

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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 show...