Observers and Macroeconomic Systems

Ric D. Herbert

ISBN 10: 0792382390 / ISBN 13: 9780792382393

Published by Springer US, Springer US Okt 1998, 1998

About this Item

This item is printed on demand - Print on Demand Titel. Neuware -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.Springer Verlag GmbH, Tiergartenstr. 17, 69121 Heidelberg 338 pp. Englisch.

Seller Inventory # 9780792382393

Bibliographic Details

• Title: Observers and Macroeconomic Systems
• Publisher: Springer US, Springer US Okt 1998
• Publication Date: 1998
• Language: English
• ISBN 10: 0792382390
• ISBN 13: 9780792382393
• Binding: Buch
• Condition: Neu
• Dimensions: 241W x 160H x 23D millimeters 241 millimeters width by 160 millimeters height by 23 millimeters depth
• Weight: 673 grams

About this title

Synopsis

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.