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- W2499716997 abstract "Publisher SummaryThis chapter examines the generation of optimal control policies where there are explicit constraints upon the control values and their rates of change, and there is limited knowledge of the complex economic system. The paper develops a methodology using quadratic programming where the constrained optimal control policies are based upon a learning model that predicts the policy targets for the economic system. A subset of the control policies is applied to the economic system and from the response of the system a new predictive model and resultant optimal controls are generated. In the unconstrained case the control strategy is created by solving equation for the 8 period time-windows and applying the first period's control to the economic system. The control strategy quickly returns the economic system to the steady-state and there is less deviation than in the no control situation. There are substantial changes in the money supply generated by this policy. A numeric example of the methodology as applied to a macroeconomic model is also presented." @default.
- W2499716997 created "2016-08-23" @default.
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- W2499716997 date "2003-01-01" @default.
- W2499716997 modified "2023-10-16" @default.
- W2499716997 title "Predictive Constrained Policy Generation for Macroeconomic Systems" @default.
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- W2499716997 doi "https://doi.org/10.1016/b978-008043858-0/50057-7" @default.
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