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G. Chow (1975)
Analysis and control of dynamic economic systems
H. Schneeweiß (1967)
Entscheidungskriterien bei Risiko
G. Chow (1972)
Optimal Control of Linear Econometric Systems with Finite Time HorizonInternational Economic Review, 13
G. Chow (1970)
Optimal Stochastic Control of Linear Economic SystemsJournal of Money, Credit and Banking, 2
This paper offers an introduction to dynamic economic planning under uncertainty, i.e. the use of econometric models together with mathematical optimization methods for the analysis and quantitative determination of optimal economic policies. The corresponding basic methodology optimal feedback stochastic control of linear econometric models given a quadratic cost functional is presented with particular regard to its practical application. The method is then applied for demonstration purposes to an econometric model of the Federal Republic of Germany.
Kybernetes – Emerald Publishing
Published: Mar 1, 1979
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