Optimal Control Methods for Linear Discrete-Time Economic Systems

Optimal Control Methods for Linear Discrete-Time Economic Systems

by Y. Murata

Paperback(Softcover reprint of the original 1st ed. 1982)

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Product Details

ISBN-13: 9781461257394
Publisher: Springer New York
Publication date: 12/12/2011
Edition description: Softcover reprint of the original 1st ed. 1982
Pages: 202
Product dimensions: 6.10(w) x 9.25(h) x (d)

Table of Contents

1 Macroeconomic Policies and Instrument Instability.- 1.1 A Keynesian Economy under the Government Budget Constraint.- 1.2 Optimal Policies by Means of Two Instruments.- 1.3 A Combination Policy.- 1.4 The Case Allowing Instrument Cost.- 1.5 Formulation of a Standard Control System.- References.- 2 Optimal Control of Linear Discrete-Time Systems.- 2.1 Fundamentals of Discrete-Time Control.- 2.2 Controllers for One-Period Lag Equation Systems.- 2.3 Solving Discrete Riccati Equations.- 2.4 Application to Control of a Dynamic Leontief System.- 2.5 Controller for a Dynamic Inequality System.- References.- 3 Observers for Linear Discrete-Time Systems.- 3.1 Preliminaries to Discrete-Time Observers.- 3.2 Luenberger Observers for Discrete-Time Systems.- 3.3 Cost Performance of Optimal Control Incorporating Observers.- 3.4 Recursive Minimum-Cost Observer.- 3.5 Separation of Observer and Controller.- References.- 4 Filters for Linear Stochastic Discrete-Time Systems.- 4.1 Preliminary Least-Squares Estimators.- 4.2 Kaiman Predictor and Filter.- 4.3 Minimal-Order Observer-Estimators: Existence.- 4.4 Minimal-Order Observer-Estimators: Computation.- 4.5 Economic Applications of Kaiman Filtering Methods.- References.- 5 Optimal Control of Linear Stochastic Discrete-Time Systems.- 5.1 Controllers for Linear Systems with Additive Disturbances.- 5.2 Controller in an Imperfect Information Case.- 5.3 Controllers for Linear Systems with Stochastic Coefficients.- 5.4 Certainty Equivalence in Stochastic Systems Control by Theil.- 5.5 Optimal Control of Macroeconomic Systems 148 References.- References.- 6 Stabilization of Economic Systems under the Government Budget Constraint.- 6.1 Dynamic Process of a Government-Budget Constrained Economy.- 6.2 Instability of an Economy with Government Budget Deficits.- 6.3 Instability of an Economy with Government Budget Deficits and Keynesian Policy Assignment Continuous-Time Case).- 6.4 Optimal Control of Economic Systems with Bond-Financed Budget Deficits.- 6.5 Optimal Control of an Open Economy with Bond-Financed Budget Deficits.- References.- Appendix Differentials of Matrix Traces.- Author Index.

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