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- DescriptionObservers and Macroecomic Systems is concerned with the computational aspects of using a control-theoretic approach to the analysis of dynamic macroecomic 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 ecomic system through output-injections. The book shows how this approach can be used to learn the forward-looking behaviour of ecomic actors which is a distinguishing feature of dynamic macroecomic models. It also shows how it can be used in conjunction with low-order models to undertake policy analysis with a large practical ecometric model. This overcomes some of the computational problems arising from using just the large ecometric models to compute optimal policy trajectories. The work also develops visual simulation software tools that can be used for policy analysis with dynamic macroecomic systems.
- Author(s)Ric D. Herbert
- PublisherSpringer-Verlag New York Inc.
- Date of Publication23/12/2012
- SubjectEconomics: Professional & General
- Series TitleAdvances in Computational Economics
- Series Part/Volume Number8
- Place of PublicationNew York, NY
- Country of PublicationUnited States
- ImprintSpringer-Verlag New York Inc.
- Content Notebiography
- Weight537 g
- Width160 mm
- Height240 mm
- Spine18 mm
- Edition StatementSoftcover reprint of the original 1st ed. 1998
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