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- W2113222381 abstract "A direct solution is proposed to an optimal control problem of linear econometric systems with a quadratic welfare loss function when there are linear equality constraints on the control variables. The direct solution proposed here eliminates the problem of non-uniqueness of the optimal solution, which is present when this optimal control problem is solved using the recursive algorithm proposed by Chow,1 Pindyck2 and Tan.3 If a unique solution to the optimal control problem exists, then the direct solution and the recursive solution coincide." @default.
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- W2113222381 title "Direct solution to an optimal control problem of econometric systems" @default.
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- W2113222381 doi "https://doi.org/10.1002/oca.4660070309" @default.
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