Journal Of Economic Dynamics Control

Author : Michael Ralph Caputo
Publisher : Cambridge University Press
Page : 596 pages
File Size : 44,8 Mb
Release : 2005-01-17
Category : Business & Economics
ISBN : 0521603684

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Foundations of Dynamic Economic Analysis by Michael Ralph Caputo Pdf

Foundations of Dynamic Economic Analysis presents a modern and thorough exposition of the fundamental mathematical formalism used to study optimal control theory, i.e., continuous time dynamic economic processes, and to interpret dynamic economic behavior. The style of presentation, with its continual emphasis on the economic interpretation of mathematics and models, distinguishes it from several other excellent texts on the subject. This approach is aided dramatically by introducing the dynamic envelope theorem and the method of comparative dynamics early in the exposition. Accordingly, motivated and economically revealing proofs of the transversality conditions come about by use of the dynamic envelope theorem. Furthermore, such sequencing of the material naturally leads to the development of the primal-dual method of comparative dynamics and dynamic duality theory, two modern approaches used to tease out the empirical content of optimal control models. The stylistic approach ultimately draws attention to the empirical richness of optimal control theory, a feature missing in virtually all other textbooks of this type.

Author : Herbert Dawid,Jasmina Arifovic
Publisher : Springer Nature
Page : 244 pages
File Size : 43,5 Mb
Release : 2020-12-22
Category : Business & Economics
ISBN : 9783030529703

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Dynamic Analysis in Complex Economic Environments by Herbert Dawid,Jasmina Arifovic Pdf

This book analyses decision-making in dynamic economic environments. By applying a wide range of methodological approaches, combining both analytical and computational methods, the contributors examine various aspects of optimal firm behaviour and relevant policy areas. Topics covered include optimal control, dynamic games, economic decision-making, and applications in finance and economics, as well as policy implications in areas such as pollution regulation. This book is dedicated to Christophe Deissenberg, a well-known and distinguished scholar of economic dynamics and computational economics. It appeals to academics in the areas of optimal control, dynamic games and computational economics as well as to decision-makers working in policy domains such as environmental policy.

Author : Vadim Iosifovich Arkin,I. V. Evstigneev
Publisher : London : Academic Press
Page : 240 pages
File Size : 54,5 Mb
Release : 1987
Category : Business & Economics
ISBN : UOM:39015013929198

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Stochastic Models of Control and Economic Dynamics by Vadim Iosifovich Arkin,I. V. Evstigneev Pdf

This book is devoted to a specific problem in the general theory of automatic control -- sequential control under conditions of incomplete information. The main results concern the case in which at each moment of (continuous) time only a finite number of controls are admissible and the results of control action are represented by realizations of random variables whose distributions at a given control correspond to one of several alternative hypotheses. The analysis is conducted in a Bayesian framework.

Author : Josef L. Haunschmied,Raimund M. Kovacevic,Willi Semmler,Vladimir M. Veliov
Publisher : Springer Nature
Page : 317 pages
File Size : 46,9 Mb
Release : 2020-11-07
Category : Business & Economics
ISBN : 9783030545765

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Dynamic Economic Problems with Regime Switches by Josef L. Haunschmied,Raimund M. Kovacevic,Willi Semmler,Vladimir M. Veliov Pdf

This book presents the state of the art in the relatively new field of dynamic economic modelling with regime switches. The contributions, written by prominent scholars in the field, focus on dynamic decision problems with regime changes in underlying dynamics or objectives. Such changes can be externally driven or internally induced by decisions. Utilising the most advanced mathematical methods in optimal control and dynamic game theory, the authors address a broad range of topics, including capital accumulation, innovations, financial decisions, population economics, environmental and resource economics, institutional change and the dynamics of addiction. Given its scope, the book will appeal to all scholars interested in mathematical and quantitative economics.

Author : Marco P. Tucci
Publisher : Springer Science & Business Media
Page : 268 pages
File Size : 54,9 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9781402028748

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The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control by Marco P. Tucci Pdf

One of the major controversies in macroeconomics over the last 30 years has been that on the effectiveness of stabilization policies. However, this debate, between those who believe that this kind of policies is useless if not harmful and those who argue in favor of it, has been mainly theoretical so far. The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control wants to represent a step toward the construction of a common ground on which to empirically compare the two "beliefs" and to do this three strands of literature are brought together. The first strand is the research on time-varying parameters (TVP), the second strand is the work on adaptive control and the third one is the literature on linear stationary models with rational expectations (RE). The material presented in The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control is divided into two parts. Part 1 combines the strand of literature on adaptive control with that on TVP. It generalizes the approach pioneered by Tse and Bar-Shalom (1973) and Kendrick (1981) and one recently used in Amman and Kendrick (2002), where the law of motion of the TVP and the hyperstructural parameters are assumed known, to the case where the hyperstructural parameters are assumed unknown. Part 2 is devoted to the linear single-equation stationary RE model estimated with the error-in-variables (EV) method. It presents a new formulation of this problem based on the use of TVP in an EV model. This new formulation opens the door to a very promising development. All the theory developed in the first part to control a model with TVP can sic et simpliciter be applied to control a model with RE.

Author : David Colander
Publisher : Cambridge University Press
Page : 33 pages
File Size : 53,7 Mb
Release : 2006-07-17
Category : Business & Economics
ISBN : 9781139459051

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Post Walrasian Macroeconomics by David Colander Pdf

Macroeconomics is evolving in an almost dialectic fashion. The latest evolution is the development of a new synthesis that combines insights of new classical, new Keynesian and real business cycle traditions into a dynamic, stochastic general equilibrium (DSGE) model that serves as a foundation for thinking about macro policy. That new synthesis has opened up the door to a new antithesis, which is being driven by advances in computing power and analytic techniques. This new synthesis is coalescing around developments in complexity theory, automated general to specific econometric modeling, agent-based models, and non-linear and statistical dynamical models. This book thus provides the reader with an introduction to what might be called a Post Walrasian research program that is developing as the antithesis of the Walrasian DSGE synthesis.

Author : A. Lazaridis
Publisher : Springer
Page : 399 pages
File Size : 40,9 Mb
Release : 2015-06-29
Category : Computers
ISBN : 9781137508928

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Dynamic Systems in Management Science by A. Lazaridis Pdf

Dynamic Systems in Management Science explores the important gaps in the existing literature on operations research and management science by providing new and operational methods which are tested in practical environment and a variety of new applications.

Author : Anonim
Publisher : Unknown
Page : 1206 pages
File Size : 54,5 Mb
Release : 2002
Category : Economic development
ISBN : UCAL:B4944631

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Journal of Economic Dynamics & Control by Anonim Pdf

Author : Marco P. Tucci
Publisher : Springer
Page : 262 pages
File Size : 49,9 Mb
Release : 2012-08-07
Category : Business & Economics
ISBN : 1475710607

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The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control by Marco P. Tucci Pdf

One of the major controversies in macroeconomics over the last 30 years has been that on the effectiveness of stabilization policies. However, this debate, between those who believe that this kind of policies is useless if not harmful and those who argue in favor of it, has been mainly theoretical so far. The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control wants to represent a step toward the construction of a common ground on which to empirically compare the two "beliefs" and to do this three strands of literature are brought together. The first strand is the research on time-varying parameters (TVP), the second strand is the work on adaptive control and the third one is the literature on linear stationary models with rational expectations (RE). The material presented in The Rational Expectation Hypothesis, Time-Varying Parameters and Adaptive Control is divided into two parts. Part 1 combines the strand of literature on adaptive control with that on TVP. It generalizes the approach pioneered by Tse and Bar-Shalom (1973) and Kendrick (1981) and one recently used in Amman and Kendrick (2002), where the law of motion of the TVP and the hyperstructural parameters are assumed known, to the case where the hyperstructural parameters are assumed unknown. Part 2 is devoted to the linear single-equation stationary RE model estimated with the error-in-variables (EV) method. It presents a new formulation of this problem based on the use of TVP in an EV model. This new formulation opens the door to a very promising development. All the theory developed in the first part to control a model with TVP can sic et simpliciter be applied to control a model with RE.

Author : Cars Hommes,Blake LeBaron
Publisher : Elsevier
Page : 834 pages
File Size : 52,5 Mb
Release : 2018-06-27
Category : Business & Economics
ISBN : 9780444641328

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Heterogeneous Agent Modeling by Cars Hommes,Blake LeBaron Pdf

Handbook of Computational Economics: Heterogeneous Agent Modeling, Volume Four, focuses on heterogeneous agent models, emphasizing recent advances in macroeconomics (including DSGE), finance, empirical validation and experiments, networks and related applications. Capturing the advances made since the publication of Volume Two (Tesfatsion & Judd, 2006), it provides high-level literature with sections devoted to Macroeconomics, Finance, Empirical Validation and Experiments, Networks, and other applications, including Innovation Diffusion in Heterogeneous Populations, Market Design and Electricity Markets, and a final section on Perspectives on Heterogeneity. Helps readers fully understand the dynamic properties of realistically rendered economic systems Emphasizes detailed specifications of structural conditions, institutional arrangements and behavioral dispositions Provides broad assessments that can lead researchers to recognize new synergies and opportunities

Author : Tamer Başar
Publisher : Springer Science & Business Media
Page : 299 pages
File Size : 54,5 Mb
Release : 2012-12-06
Category : Business & Economics
ISBN : 9783642616365

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Dynamic Games and Applications in Economics by Tamer Başar Pdf

This volume contains eleven articles which deal with different aspects of dynaoic and differential game theory and its applications in economic modeling and decision making. All but one of these were presented as invited papers in special sessions I organized at the 7th Annual Conference on Economic Dynamics and Control in London, England, during the period June 26-28, 1985. The first article, which comprises Chapter 1, provides a general introduction to the topic of dynamic and differential game theory, discusses various noncooperative equilibrium solution concepts, includ ing Nash, Stackelberg, and Consistent Conjectural Variations equilibria, and a number of issues such as feedback and time-consistency. The second chapter deals with the role of information in Nash equilibria and the role of leadership in Stackelberg problems. A special type of a Stackelberg problem is the one in which one dominant player (leader) acquires dynamic information involving the actions of the others (followers), and constructs policies (so-called incentives) which enforce a certain type of behavior on the followers; Chapter 3 deals with such a class of problems and presents some new theoretical results on the existence of affine incentive policies. The topic of Chapter 4 is the computation of equilibria in discounted stochastic dynamic games. Here, for problems with finite state and decision spaces, existing algorithms are reviewed, with a comparative study of their speeds of convergence, and a new algorithm for the computation of nonzero-sum game equilibria is presented.

Author : Anonim
Publisher : ScholarlyEditions
Page : 875 pages
File Size : 45,6 Mb
Release : 2012-01-09
Category : Business & Economics
ISBN : 9781464965050

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Issues in General Economic Research and Application: 2011 Edition by Anonim Pdf

Issues in General Economic Research and Application: 2011 Edition is a ScholarlyEditions™ eBook that delivers timely, authoritative, and comprehensive information about General Economic Research and Application. The editors have built Issues in General Economic Research and Application: 2011 Edition on the vast information databases of ScholarlyNews.™ You can expect the information about General Economic Research and Application in this eBook to be deeper than what you can access anywhere else, as well as consistently reliable, authoritative, informed, and relevant. The content of Issues in General Economic Research and Application: 2011 Edition has been produced by the world’s leading scientists, engineers, analysts, research institutions, and companies. All of the content is from peer-reviewed sources, and all of it is written, assembled, and edited by the editors at ScholarlyEditions™ and available exclusively from us. You now have a source you can cite with authority, confidence, and credibility. More information is available at http://www.ScholarlyEditions.com/.

Author : Roberto Dieci,Xue-Zhong He,Cars Hommes
Publisher : Springer
Page : 389 pages
File Size : 55,8 Mb
Release : 2014-07-26
Category : Business & Economics
ISBN : 9783319074702

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Nonlinear Economic Dynamics and Financial Modelling by Roberto Dieci,Xue-Zhong He,Cars Hommes Pdf

This book reflects the state of the art on nonlinear economic dynamics, financial market modelling and quantitative finance. It contains eighteen papers with topics ranging from disequilibrium macroeconomics, monetary dynamics, monopoly, financial market and limit order market models with boundedly rational heterogeneous agents to estimation, time series modelling and empirical analysis and from risk management of interest-rate products, futures price volatility and American option pricing with stochastic volatility to evaluation of risk and derivatives of electricity market. The book illustrates some of the most recent research tools in these areas and will be of interest to economists working in economic dynamics and financial market modelling, to mathematicians who are interested in applying complexity theory to economics and finance and to market practitioners and researchers in quantitative finance interested in limit order, futures and electricity market modelling, derivative pricing and risk management.

Author : Herbert Dawid,Willi Semmler
Publisher : Springer Science & Business Media
Page : 217 pages
File Size : 45,8 Mb
Release : 2011-03-23
Category : Business & Economics
ISBN : 9783642169434

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Computational Methods in Economic Dynamics by Herbert Dawid,Willi Semmler Pdf

This volume is centered around the issue of market design and resulting market dynamics. The economic crisis of 2007-2009 has once again highlighted the importance of a proper design of market protocols and institutional details for economic dynamics and macroeconomics. Papers in this volume capture institutional details of particular markets, behavioral details of agents' decision making as well as spillovers between markets and effects to the macroeconomy. Computational methods are used to replicate and understand market dynamics emerging from interaction of heterogeneous agents, and to develop models that have predictive power for complex market dynamics. Finally treatments of overlapping generations models and differential games with heterogeneous actors are provided.

Author : John Stachurski
Publisher : MIT Press
Page : 395 pages
File Size : 42,5 Mb
Release : 2022-08-16
Category : Business & Economics
ISBN : 9780262372442

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Economic Dynamics, second edition by John Stachurski Pdf

The second edition of a rigorous and example-driven introduction to topics in economic dynamics that emphasizes techniques for modeling dynamic systems. This text provides an introduction to the modern theory of economic dynamics, with emphasis on mathematical and computational techniques for modeling dynamic systems. Written to be both rigorous and engaging, the book shows how sound understanding of the underlying theory leads to effective algorithms for solving real-world problems. The material makes extensive use of programming examples to illustrate ideas, bringing to life the abstract concepts in the text. Key topics include algorithms and scientific computing, simulation, Markov models, and dynamic programming. Part I introduces fundamentals and part II covers more advanced material. This second edition has been thoroughly updated, drawing on recent research in the field. New for the second edition: “Programming-language agnostic” presentation using pseudocode. New chapter 1 covering conceptual issues concerning Markov chains such as ergodicity and stability. New focus in chapter 2 on algorithms and techniques for program design and high-performance computing. New focus on household problems rather than optimal growth in material on dynamic programming. Solutions to many exercises, code, and other resources available on a supplementary website.