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A system-theoretic critique of dynamic economic models

  • R. E. Kalman
Conference paper
Part of the Lecture Notes in Control and Information Sciences book series (LNCIS, volume 19)

Abstract

This paper treats the theoretical aspects of modeling and simulation of dynamical systems, especially those arising in economics.

Our aim is primarily methodological critique; while the ultimate arguments rest on advanced mathematical concepts, the conclusions are stated in quite elementary and intuitive terms.

There are important implications for the entire area of “modeling”.

Keywords

Realization Theory Unmeasurable Variable System Aspect Seasonal Adjustment Monetarist Model 
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.

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Copyright information

© Springer-Verlag 1979

Authors and Affiliations

  • R. E. Kalman
    • 1
    • 2
  1. 1.Swiss Federal Institute of TechnologyZürichSwitzerland
  2. 2.University of FloridaGainesvilleUSA

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