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- W2034632016 abstract "The major emphasis in this paper is to utilize system-theoretic concepts to adapt econometric models via state-space models to solve for optimal stabilization policies involving asymmetric loss functions. Computational feasibility and ease of implementation are regarded as matters of great importance and hence the dimensionality of the problem is given due attention. It is well established that the optimal control for such a problem is in the form of linear state feedback, which provides us with a more natural solution form. An implementable algorithm for this purpose is presented. We also investigate the importance of the time horizon over which optimization is carried out. The analysis is carried out for the deterministic model of the economy, but we discuss situations where uncertainty enters into the model in additive form. We freely borrow ideas from the vast control literature, specifically, from the area of optimal control for linear systems with quadratic cost functions." @default.
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- W2034632016 date "1989-01-01" @default.
- W2034632016 modified "2023-09-27" @default.
- W2034632016 title "Optimal feedback stabilization policy with asymmetric loss functions" @default.
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- W2034632016 doi "https://doi.org/10.1016/0898-1221(89)90115-6" @default.
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