CONTROL OF LARGE-SCALE NONLINEAR ECONOMETRIC SYSTEMS.

Gregory C. Chow, Sharon B Megdal

Research output: Contribution to journalArticle

5 Citations (Scopus)

Abstract

After pointing out the special characteristics of existing econometric models which form the basis of the application of optimal control techniques for macroeconomic policy analysis and formulation, this work surveys the use of econometric models for the projection of the economic consequences of alternative policies and the formulation of optimal policies. It presents both the theory and the computational aspects of a particular approach of applying feedback control to study policy options using large-scale nonlinear systems of simultaneous econometric equations. It then illustrates this appraoch by solving an optimal control problem using the Michigan Quarterly Econometric Model.

Original languageEnglish (US)
Pages (from-to)344-349
Number of pages6
JournalIEEE Transactions on Automatic Control
VolumeAC-23
Issue number2
StatePublished - Apr 1978
Externally publishedYes

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Nonlinear systems
Feedback control
Economics

ASJC Scopus subject areas

  • Control and Systems Engineering
  • Electrical and Electronic Engineering

Cite this

CONTROL OF LARGE-SCALE NONLINEAR ECONOMETRIC SYSTEMS. / Chow, Gregory C.; Megdal, Sharon B.

In: IEEE Transactions on Automatic Control, Vol. AC-23, No. 2, 04.1978, p. 344-349.

Research output: Contribution to journalArticle

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