System Theoretic Methods In Economic Modelling I
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System Theoretic Methods In Economic Modelling I
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Author : S. Mittnik
language : en
Publisher: Elsevier
Release Date : 2014-06-28
System Theoretic Methods In Economic Modelling I written by S. Mittnik and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Business & Economics categories.
The value of applying system-theoretic concepts to economic modelling problems arises from the fact that it offers a unifying framework for modelling dynamic systems. In addition to offering this powerful conceptual framework, it provides a wide range of tools useful in applied work. System-theoretic techniques enter predominantly two stages of economic modelling efforts: the stage of model construction and the stage of model application in accordance with the modelling. The objective of this and subsequent volumes on System-Theoretic Methods in Economic Modelling I is to initiate and/or intensify dialogues between researchers and practitioners within and across the disciplines involved. This first volume brings together papers exhibiting a wide range of system-theoretic techniques and applications to economic problems. The papers have been divided into two groups, following roughly--but not necessarily--the above classification into the construction and application stages of economic modelling. The papers in the first group focus on the identification of dynamic and static systems, while the papers in the second group address dynamic optimization problems.
System Theoretic Methods In Economic Modelling Ii
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Author : S. Mittnik
language : en
Publisher: Elsevier
Release Date : 2014-06-28
System Theoretic Methods In Economic Modelling Ii written by S. Mittnik and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Mathematics categories.
System-Theoretic Methods in Economic Modelling II complements the editor's earlier volume, bringing together current research efforts integrating system-theoretic concepts with economic modelling processes. The range of papers presented here goes beyond the long-accepted control-theoretic contributions in dynamic optimization and focuses on system-theoretic methods in the construction as well as the application stages of economic modelling. This volume initiates new and intensifies existing debate between researchers and practitioners within and across the disciplines involved, with the objective of encouraging interdisciplinary research. The papers are split into four sections - estimation, filtering and smoothing problems in the context of state space modelling; applying the state space concept to financial modelling; modelling rational expectation; and a miscellaneous section including a follow-up case study by Tse and Khilnani on their integrated system model for a fishery management process, which featured in the first volume.
Growth Theory Nonlinear Dynamics And Economic Modelling
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Author : William A. Brock
language : en
Publisher: Edward Elgar Publishing
Release Date : 2001-01-01
Growth Theory Nonlinear Dynamics And Economic Modelling written by William A. Brock and has been published by Edward Elgar Publishing this book supported file pdf, txt, epub, kindle and other format this book has been release on 2001-01-01 with Business & Economics categories.
'Buz Brock's contribution to economic theory in general and economic dynamics in particular are characterized by an unmatched richness of ideas and by deep theoretical, empirical as well as computational analysis. Brock's contribution to economic dynamics range from one extreme of the field, global stability of stochastic optimal growth models, to another extreme, market instability and nonlinearity in economic and financial modelling and data analysis. But his work also includes environmental and economic policy issues and, more recently, the modelling of markets as complex adaptive systems. This collection of essays reflects Brock's richness of ideas that have motivated economists for more than three decades already and will continue to influence many economists for the next decades to come.' - Cars H. Hommes, University of Amsterdam, The Netherlands 'Buz Brock has been, from the beginning of his career, one of the most original thinkers in dynamic economics. His early work showed that growth with random elements could be studied effectively and above all posed exactly the right questions. His more recent work has brought complexity theory to the fore and shown its implications for financial and other markets. In the process, he has both introduced and used econometric tools to show the relevance of his work to empirically observed phenomena. It is very useful to have his work in collected form.' - Kenneth J. Arrow, Stanford University, US This outstanding collection of William Brock's essays illustrates the power of dynamic modelling to shed light on the forces for stability and instability in economic systems. The articles selected reflect his best work and are indicative both of the type of policy problem that he finds challenging and the complex methodology that he uses to solve them. Also included is an introduction by Brock to his own work, which helps tie together the main aspects of his research to date.
Models And Methods In Multiple Criteria Decision Making
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Author : G. Colson
language : en
Publisher: Elsevier
Release Date : 2014-06-28
Models And Methods In Multiple Criteria Decision Making written by G. Colson and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Business & Economics categories.
This volume is devoted to models and methods in multiple objectives decision making. The importance of the multiple dimensions of decision making was first recognised during the 1960s and since then progress has been made in that theoretical or application oriented contributions may now be categorized under two main headings:- Multiattribute Decision Making (MADM) which concerns the sorting, the ranking or the evaluation of objects of choice according to several criteria and Multiobjective Decision Making (MODM) which deals with the vector optimization in mathematical programming. The above are also presented in the context of various applications, namely banking, environment, health, manpower, media, portfolio and traffic control, resulting in a book for a wide variety of readers.
Formal Theories Of Politics
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Author : P. E. Johnson
language : en
Publisher: Elsevier
Release Date : 2014-06-28
Formal Theories Of Politics written by P. E. Johnson and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2014-06-28 with Business & Economics categories.
Formal Theories of Politics demonstrates the role of formal mathematical models in political science, and aims to convey a sense of the questions and methods which govern the political science research agenda. While there is still much interest in empirical patterns of voting behaviour and public opinion data, there has been substantial growth in emphasis on mathematical theory as a technique for the derivation of testable hypotheses. Topics discussed include: optimal candidate strategies and equilibria in competitive elections; voting agendas and parliamentary procedure in the multidimensional events; revolution, repression and inequality as outputs of dynamics systems. The mathematical techniques are widely varied, including game theory, functional analysis, differential equations, expert systems, stochastic processes and statistical models.
Symmetry 2
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Author : I. Hargittai
language : en
Publisher: Elsevier
Release Date : 2016-02-25
Symmetry 2 written by I. Hargittai and has been published by Elsevier this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-02-25 with Mathematics categories.
Symmetry 2 aims to present an overview of the contemporary status of symmetry studies, particularly in the arts and sciences, emphasizing both its role and importance. Symmetry is not only one of the fundamental concepts in science, but is also possibly the best unifying concept between various branches of science, the arts and other human activities. Whereas symmetry has been considered important for centuries primarily for its aesthetic appeal, this century has witnessed a dramatic enhancement of its status as a cornerstone in the sciences. In addition to traditionally symmetry-oriented fields such as crystallography and spectroscopy, the concept has made headway in fields as varied as reaction chemistry, nuclear physics, and the study of the origin of the universe. The book was initiated in response to the success of the first volume, which not only received good reviews, but received the award for "The Best Single Issue of a Journal" by the Association of American Publishers for 1986. The second volume extends the application of symmetry to new fields, such as medical sciences and economics, as well as investigating further certain topics introduced in Symmetry. The book is extensively illustrated and with over 64 contributions from 16 countries presents an international overview of the nature and diversity of symmetry studies today.
Control Theory Methods In Economics
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Author : Jati Sengupta
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Control Theory Methods In Economics written by Jati Sengupta and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Control theory methods in economics have historically developed over three phases. The first involved basically the feedback control rules in a deterministic framework which were applied in macrodynamic models for analyzing stabilization policies. The second phase raised the issues of various types of inconsistencies in deterministic optimal control models due to changing information and other aspects of stochasticity. Rational expectations models have been extensively used in this plan to resolve some of the inconsistency problems. The third phase has recently focused on the various aspects of adaptive control. where stochasticity and information adaptivity are introduced in diverse ways e.g .• risk adjustment and risk sensitivity of optimal control, recursive updating rules via Kalman filtering and weighted recursive least squares and variable structure control methods in nonlinear framework. Problems of efficient econometric estimation of optimal control models have now acquired significant importance. This monograph provides an integrated view of control theory methods, synthesizing the three phases from feedback control to stochastic control and from stochastic control to adaptive control. Aspects of econometric estimation are strongly emphasized here, since these are very important in empirical applications in economics.
Notes On Economic Time Series Analysis System Theoretic Perspectives
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Author : Masanao Aoki
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Notes On Economic Time Series Analysis System Theoretic Perspectives written by Masanao Aoki and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Mathematics categories.
In seminars and graduate level courses I have had several opportunities to discuss modeling and analysis of time series with economists and economic graduate students during the past several years. These experiences made me aware of a gap between what economic graduate students are taught about vector-valued time series and what is available in recent system literature. Wishing to fill or narrow the gap that I suspect is more widely spread than my personal experiences indicate, I have written these notes to augment and reor ganize materials I have given in these courses and seminars. I have endeavored to present, in as much a self-contained way as practicable, a body of results and techniques in system theory that I judge to be relevant and useful to economists interested in using time series in their research. I have essentially acted as an intermediary and interpreter of system theoretic results and perspectives in time series by filtering out non-essential details, and presenting coherent accounts of what I deem to be important but not readily available, or accessible to economists. For this reason I have excluded from the notes many results on various estimation methods or their statistical properties because they are amply discussed in many standard texts on time series or on statistics.
Modelling Macroeconomic Adjustment With Growth In Developing Economies
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Author : Sushanta K. Mallick
language : en
Publisher: Routledge
Release Date : 2018-08-13
Modelling Macroeconomic Adjustment With Growth In Developing Economies written by Sushanta K. Mallick and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-13 with Business & Economics categories.
First published in 1999, this influential volume explores Macroeconomic Adjustment with a particular focus on India. Its inspiration originated from the introduction of stabilisation and structural adjustment policies in India in 1991. Mallick examines the application of this policy package by the International Monetary Fund and the World Bank to Developing Economies. First looking at the initial conditions and generators of imbalances, the appropriate policy framework for India’s initial conditions and structural characteristics is considered. While the effectiveness of the IMF had been strongly criticised, Mallick explains how it could be used more effectively. He argues that the programs applied are often contradictory and, using India as an example, examines the effects of policy reform on its trade sector, the repercussions on the direct economy and the costs associated with such policies in restoring stability and future economic growth, with particular support for the Vector Autoregression (VAR) framework. Mallick forwards a new structural model for policy purposes, evaluated for overall performance and optimal control.
Qualitative Theory Of Dynamical Systems Tools And Applications For Economic Modelling
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Author : Gian Italo Bischi
language : en
Publisher: Springer
Release Date : 2016-06-02
Qualitative Theory Of Dynamical Systems Tools And Applications For Economic Modelling written by Gian Italo Bischi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-06-02 with Science categories.
The book presents the lectures delivered during a short course held at Urbino University in summer 2015 on qualitative theory of dynamical systems, included in the activities of the COST Action IS1104 “The EU in the new economic complex geography: models, tools and policy evaluation”. It provides a basic introduction to dynamical systems and optimal control both in continuous and discrete time, as well as some numerical methods and applications in economic modelling. Economic and social systems are intrinsically dynamic, characterized by interdependence, nonlinearity and complexity, and these features can only be approached using a qualitative analysis based on the study of invariant sets (equilibrium points, limit cycles and more complex attractors, together with the boundaries of their basins of attraction), which requires a trade-off between analytical, geometrical and numerical methods. Even though the early steps of the qualitative theory of dynamical systems have been in continuous time models, in economic and social modelling discrete time is often used to describe event-driven (often decision-driven) evolving systems. The book is written for Ph.D. and master’s students, post-doctoral fellows, and researchers in economics or sociology, and it only assumes a basic knowledge of calculus. However it also suggests some more advanced topics.