Abstract
By employing systems analysis and modeling techniques, this chapter establishes a stage for us to address the problem of international contagion of financial crises, and how future financial crises could be better contained by making use of the language of systems science. In particular, this chapter develops the general concept of optimal regulation (control) of challenging economic situations. It looks at different scenarios on how particular problems of economic optimization can be formulated and when different versions of optimal regulation could come into play. One practical implication is that the established concept of optimal economic regulations can be directly employed in managing difficult economic and financial situations.
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Forrest, J.YL., Ying, Y., Gong, Z., Yue, Y., Novikov, D.A. (2018). The Problem of Optimal Macroeconomic Regulations. In: Currency Wars. Contemporary Systems Thinking. Springer, Cham. https://doi.org/10.1007/978-3-319-67765-1_17
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DOI: https://doi.org/10.1007/978-3-319-67765-1_17
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