Titlebook: Optimal Control for Econometric Models; An Approach to Econo Sean Holly,Berç Rüstem,Martin B. Zarrop Book 1979 Palgrave Macmillan, a divisi

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Economic Policy Formulation in a Large-scale Modelonomic policy, with different combinations of targets and instruments. The intention is to narrow down the feasible and sensible range of policies which are worth thorough and detailed exploration. The method is illustrated by an application to the Cambridge Growth Project’s multisectoral dynamic model of the UK economy.

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A Control Theory Framework for Policy Analysisused is not uniform among countries and even where considerable reliance is placed upon them very often other considerations will predominate. More recently attention has shifted to developing ways in which these models could be used more effectively. One area that has attracted widespread attention is that of stochastic optimal control theory.

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Control Methods and Quantitative Economic PolicyOur 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 . application of control methodology to economic management.

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Adaptive Control of Macroeconomic Models with Measurement Errord as more information becomes available. The magnitude of these revisions gives us a measure of the relative quality of different macroeconomic time series and yet economists do not presently use this information in determining policies.

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