Advertisement

Control Methods and Quantitative Economic Policy

  • Mark Salmon
  • Peter Young
Chapter

Abstract

Our intention in the present paper is to emphasise certain issues which have been neglected in the literature but which will have important implications on the practical application of control methodology to economic management.

Keywords

Closed Loop Close Loop System Econometric Model Control System Design Model Misspecification 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

Preview

Unable to display preview. Download preview PDF.

Unable to display preview. Download preview PDF.

References

  1. [1]
    Anderson, B. D. O., and Moore, J. B., Linear Optimal Control (Prentice-Hall, 1971).Google Scholar
  2. [2]
    Athans, M., ‘On the Design of P. I. D. Controllers Using Optimal Linear Regulator Theory’, Automatica, vol. 7 (1971).Google Scholar
  3. [3]
    Beck, M. B. and Young, P. C., ‘Systematic Identification of DO-BOD Model Structure Journal of the Environmental Engineering Division, A S C E, vol. 102, no. EE5, pp. 909–27 (Oct 1976).Google Scholar
  4. [4]
    Chow, G. S., Analysis and Control of Dynamic Economic Systems (Wiley, New York, 1975).Google Scholar
  5. [5]
    Chow, G. S., ‘Usefulness of Imperfect Models for the Formulation of Stabilization Policies’, Annals of Economic and Social Measurement, vol. 6, no. 2 (1977).Google Scholar
  6. [6]
    Diestler, M. and Seifert, H. G., ‘Identifiability and Consistent Estimability in Econometric Models’, mimeo (1975).Google Scholar
  7. [7]
    Davison, E. J., ‘Multivariable Tuning Regulators: The Feedforward and Robust Control of a General Servomechanism Problem, IEEE Trans. Aut. Control, vol. AC21, no. 1, pp. 35–47 (Feb 1976).CrossRefGoogle Scholar
  8. [8]
    Fuller, A. T., ‘Feedback Control Systems with Low Frequency Stochastic Disturbances’, University of Cambridge, Dept. of Engineering, CUED/F Control/TR 97 (1975).Google Scholar
  9. [9]
    Gilbert, E. G., ‘The Decoupling of Multivariable systems by Means of State Variable Feedback’, SIAM Jnl. Control, vol. 7, pp. 54–63 (1969).Google Scholar
  10. [10]
    Horowitz, I. M., and Shaked, U., Superiority of Transfer Function over State-Variable Methods in Linear Time-Invariant Feedback System Design, IEEE Trans. Aut. Control, vol. AC20, no. 1, pp. 84–97 (Feb 1975).CrossRefGoogle Scholar
  11. [11]
    Johnson, C. D., ‘Further Study of the Linear Regulator with Disturbances’, IEEE Trans. Aut. Control, vol. AC15, no. 2, pp. 222–8 (Apr 1970).CrossRefGoogle Scholar
  12. [12]
    Johnson, C. D., ‘Accommodation of External Disturbances in Linear Regulator and Servomechanism Problems’, IEEE Trans. Aut. Control, vol. AC16, no. 6, pp. 635–44, (Dec 1971).CrossRefGoogle Scholar
  13. [13]
    Johnson, C. D., ‘Accommodation of Disturbances in Optimal Control Problems’, Int. Jnl. of Control, vol. 15, no. 2 (1972).Google Scholar
  14. [14]
    Mehra, R. K., ‘Identification in Control and Econometrics: Similarities and Differences’, Annals of Economic and Social Measurement, 3/1 (1974).Google Scholar
  15. [15]
    MacFarlane, A. G. J., ‘A Survey of Some Recent Results in Linear Multivariable Feedback Theory’, Automatica, vol. 8, pp. 455–92 (1972).CrossRefGoogle Scholar
  16. [16]
    Phillips, A. W., ‘Stabilization Policy in a Closed Economy’, Economic Journal, June 1954.Google Scholar
  17. [17]
    Phillips, A. W., ‘Stabilization Policy and the Time Forms of Lagged Responses’, Economic Journal, June 1957.Google Scholar
  18. [18]
    Pierce, D., ‘Quantitative Analysis for Decisions at the Federal Reserve, Annals of Economic and Social Measurement, vol. 3, no. 1 (1974).Google Scholar
  19. [19]
    Preston, A. J., and Wall, K. D., ‘Some Aspects of the Use of State Space Models in Econometrics’, IFAC/IFORS Conference, Warwick, 1973.Google Scholar
  20. [20]
    Porter, B. and Crossley, R., Modal Control (Taylor & Francis, London, 1972).Google Scholar
  21. [21]
    Salmon, M. H., ‘Structural Properties of Econometric Models’, CRES Working Paper RG/16 (ANU, 1977).Google Scholar
  22. [22]
    Salmon, M. H., and Young, P. C., ‘Some Aspects of Control Methods and Robust Economic Policy’, CRES Report no. AS/R12 (1977).Google Scholar
  23. [23]
    Salmon, M. H., ‘Recursive Formulations for Econometric Estimators’, CRES Working Paper RG/17 (ANU, 1977).Google Scholar
  24. [24]
    Truxal, J. G., Automatic Feedback Control System Synthesis, (McGraw-Hill, New York, 1955).Google Scholar
  25. [25]
    Unbehauer, H., Schmid, C., and Bottiger, F., ‘Comparison and Application of DDC Algorithms for a Heat Exchanger’, Automatica, vol. 12, no. 5, pp. 293–402 (Sep 1976).Google Scholar
  26. [26]
    Wang, S. H., and Desoer, C. A., ‘The Exact Model Matching of Linear Multivariable Systems’, IEEE Trans. Aut. Control, vol. AC17, pp. 347–8 (June 1972).CrossRefGoogle Scholar
  27. [27]
    Wonham, W. M., Linear Multivariable Control (Springer Verlag, Lecture Notes in Economics and Mathematical Systems no. 101, 1974).CrossRefGoogle Scholar
  28. [28]
    Wallis, K. F., and Prothero, D. L., Modelling Macroeconomic Time Series, Jnl. R. Statistical Soc., series A, vol. 139 (1976).Google Scholar
  29. [29]
    Young, P. C., ‘Recursive Approaches to Time Series Analysis’, Bulletin of the Institute of Mathematics and its Applications, vol. 10, nos 5 and 6 (May/June 1974).Google Scholar
  30. [30]
    Young, P. C., and Willems, J. C., ‘An Approach to the Linear Multivariable Servomechanism Problem’, International Journal of Control, vol. 15, no. 5 (1972).Google Scholar
  31. [31]
    Young, P. C., Sheswell, S. H., and Neethling, C., ‘A Recursive Approach to Time-Series Analyses’, Control Div. Department of Engineering, University of Cambridge, Tech. Report no. CUED/B-Control/TR16 (1971).Google Scholar
  32. [32]
    Young, P. C., ‘Some Observations on Instrumental Variable Methods of Time-Series Analysis’, Int. Jnl. of Control, vol. 23, no. 5, pp. 593–612 (1976).CrossRefGoogle Scholar
  33. [33]
    Young, P. C., and Levsen, L. D., Linear System Design: Application of State Space Methods to the Design of Linear Time Invariant Systems (A Handbook to a Package of FORTRAN V Computer Programs), Naval Weapons Center, China Lake, California, Publication No. NWC-TP-4927.Google Scholar
  34. [34]
    Young, P. C., and Yancey, C., A Second Generation Adaptive Autostabilisation System for Aircraft and Missiles, Naval Weapons Center, China Lake, California, Report No. TN-404–109 (1975).Google Scholar
  35. [35]
    Young, P. C., ‘A General Theory of Modelling for Badly Defined Systems’, to appear in Modelling of Land, Air and Water Resource Systems, ed. by G. C. Vansteekiste (Academic Press, 1977).Google Scholar
  36. [36]
    Young, P. C., and Jakeman, A. J., Refined Instrumental Variable Methods of Recursive Time-Series Analysis, Part I: Single Input Single Output Systems, CRES Report No. AS/R12 (1977).Google Scholar
  37. [37]
    Jakeman, A. J., and Young, P. C., Refined Instrumental Variable Methods of Recursive Time-Series Analysis, Part II: Multivariable Systems, CRES Report No. AS/R13 (1977).Google Scholar

Copyright information

© Mark Salmon and Peter Young 1979

Authors and Affiliations

  • Mark Salmon
  • Peter Young

There are no affiliations available

Personalised recommendations