Abstract
This Chapter is concerned with the use of linear observers to develop control policies for the practical, nonlinear, econometric model developed in Chapter 7. This is a large, with 258 states, dynamic macroeconometric model. The linear observers are based upon the models developed in Chapter 3. The first part of the Chapter focuses on control experiments, and the second part focuses on tools. In the second part, visual simulation environments are developed whereby policy design through control experiments can be undertaken. Again, using the techniques of Chapter 5, the objective is for practical experiments to be able to be undertaken by practical economists with the aim of disseminating the ideas of this book.
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© 1998 Springer Science+Business Media New York
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Herbert, R.D. (1998). Linear Observer Based Control with the Nonlinear Macroeconometric Model. In: Observers and Macroeconomic Systems. Advances in Computational Economics, vol 8. Springer, Boston, MA. https://doi.org/10.1007/978-1-4615-5583-4_8
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DOI: https://doi.org/10.1007/978-1-4615-5583-4_8
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4613-7554-8
Online ISBN: 978-1-4615-5583-4
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