Observers and Macroeconomic Systems is popular PDF and ePub book, written by Ric D. Herbert in 2012-12-06, it is a fantastic choice for those who relish reading online the Business & Economics genre. Let's immerse ourselves in this engaging Business & Economics book by exploring the summary and details provided below. Remember, Observers and Macroeconomic Systems can be Read Online from any device for your convenience.
Observers and Macroeconomic Systems Book PDF Summary
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.
Detail Book of Observers and Macroeconomic Systems PDF
- Author : Ric D. Herbert
- Release : 06 December 2012
- Publisher : Springer Science & Business Media
- ISBN : 9781461555834
- Genre : Business & Economics
- Total Page : 329 pages
- Language : English
- PDF File Size : 13,8 Mb
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