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Constrained macroeconomic policy development with a separate predictive model
- Source :
-
Mathematics & Computers in Simulation . Feb2004, Vol. 64 Issue 3/4, p467. 10p. - Publication Year :
- 2004
-
Abstract
- This paper examines the issue of the generation of optimal control policies where there are explicit constraints upon the control values and there is limited knowledge of the complex economic system. The paper develops a methodology where the constrained optimal control is based upon a separate model that predicts the policy targets for the economic system. The methodology as applied to a small calibrated macroeconomic model of Australia. [Copyright &y& Elsevier]
Details
- Language :
- English
- ISSN :
- 03784754
- Volume :
- 64
- Issue :
- 3/4
- Database :
- Academic Search Index
- Journal :
- Mathematics & Computers in Simulation
- Publication Type :
- Periodical
- Accession number :
- 12042228
- Full Text :
- https://doi.org/10.1016/S0378-4754(03)00112-5