Control Strategies for Attaining Ramp Output

Abstract

This Chapter considers the issue of tracking a desired output of a set of ramps. A set of outputs is used as, for most economic systems, it is the trade-offs between multiple inputs and multiple outputs that are of interest. Ramps follow naturally with economic systems, as many economic data series have a ramp trajectory over time periods of interest, and, thus, economic models tend to be expressed so that ramps are a common output. As it is an aim of this book to use standard economic models, then ramps follow naturally. This is especially the situation when using low order observers for large nonlinear macroeconometric models.