Optimal Control Methods for Linear Discrete-Time Economic Systems
by Yasuo Murata
1 Macroeconomic Policies and Instrument Instability -- 1.1 A Keynesian Economy under the Government Budget Constraint -- 1.2 Optimal Policies by Means of Two Instruments -- 1.3 A Combination Policy -- 1.4 The Case Allowing Instrument Cost -- 1.5 Formulation of a Standard Control System -- References -- 2 Optimal Control of Linear Discrete-Time Systems -- 2.1 Fundamentals of Discrete-Time Control -- 2.2 Controllers for One-Period Lag Equation Systems -- 2.3 Solving Discrete Riccati Equations -- 2.4 Application to Control of a Dynamic Leontief System -- 2.5 Controller for a Dynamic Inequality System -- References -- 3 Observers for Linear Discrete-Time Systems -- 3.1 Preliminaries to Discrete-Time Observers -- 3.2 Luenberger Observers for Discrete-Time Systems -- 3.3 Cost Performance of Optimal Control Incorporating Observers -- 3.4 Recursive Minimum-Cost Observer -- 3.5 Separation of Observer and Controller -- References -- 4 Filters for Linear Stochastic Discrete-Time Systems -- 4.1 Preliminary Least-Squares Estimators -- 4.2 Kaiman Predictor and Filter -- 4.3 Minimal-Order Observer-Estimators: Existence -- 4.4 Minimal-Order Observer-Estimators: Computation -- 4.5 Economic Applications of Kaiman Filtering Methods -- References -- 5 Optimal Control of Linear Stochastic Discrete-Time Systems -- 5.1 Controllers for Linear Systems with Additive Disturbances -- 5.2 Controller in an Imperfect Information Case -- 5.3 Controllers for Linear Systems with Stochastic Coefficients -- 5.4 Certainty Equivalence in Stochastic Systems Control by Theil -- 5.5 Optimal Control of Macroeconomic Systems 148 References -- References -- 6 Stabilization of Economic Systems under the Government Budget Constraint -- 6.1 Dynamic Process of a Government-Budget Constrained Economy -- 6.2 Instability of an Economy with Government Budget Deficits -- 6.3 Instability of an Economy with Government Budget Deficits and Keynesian Policy Assignment Continuous-Time Case) -- 6.4 Optimal Control of Economic Systems with Bond-Financed Budget Deficits -- 6.5 Optimal Control of an Open Economy with Bond-Financed Budget Deficits -- References -- Appendix Differentials of Matrix Traces -- Author Index.
