Econometric Analysis by Control Methods |
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Page 30
... Chow ( 1975 ) for the control of nonlinear econometric systems with known parameters . It is also a generalization of the solution given in Chow ( 1973 ) for the control of linear econometric systems with unknown parameters . The method ...
... Chow ( 1975 ) for the control of nonlinear econometric systems with known parameters . It is also a generalization of the solution given in Chow ( 1973 ) for the control of linear econometric systems with unknown parameters . The method ...
Page 125
... ( Chow , 1975 , Section 8.1 ) , we first minimize the expected loss for only the last period T with respect to x , and obtain a linear feedback control equation î TM = G1yt - 1 + 87. We then minimize the sum of the expected losses for the ...
... ( Chow , 1975 , Section 8.1 ) , we first minimize the expected loss for only the last period T with respect to x , and obtain a linear feedback control equation î TM = G1yt - 1 + 87. We then minimize the sum of the expected losses for the ...
Page 258
... Chow ( 1975 ) can be used to find this optimal feedback control equation . The problem of policy evaluation is thus solved . = Turning to policy optimization by the government , we observe that its optimal policy is the strategy of the ...
... Chow ( 1975 ) can be used to find this optimal feedback control equation . The problem of policy evaluation is thus solved . = Turning to policy optimization by the government , we observe that its optimal policy is the strategy of the ...
Contents
Introduction | 4 |
Econometric Systems | 14 |
The Control of Nonlinear Econometric Systems | 30 |
Copyright | |
16 other sections not shown
Common terms and phrases
a₁ analysis applied asset assumed assumption B₁ Capital stock Chapter Chow coefficients compute constraint consumption control variables covariance matrix derived deterministic deviations dynamic programming econometric model economic elements end-year endogenous variables estimates evaluate exogenous expected loss feedback control equations G₁ Gauss-Siedel given H₁ historical imperfect model industrial inflation rate iteration K₁ k₂ Kalman filtering lagged likelihood function linear model loss function mean paths measure of instability method of dynamic multiperiod objective function obtain optimal control optimal control problem optimal feedback control optimal policy output parameters payoff matrix period policy variables production quadratic function quadratic loss function random disturbances rational expectations reaction functions real GNP reduced form regime respect resulting simulations solution paths solve Soviet SOVMOD step stochastic control stochastic differential equations structural equations target values target variables tion V₁ vector x₁ y₁ y₂ zero ду