The design of monetary policy depends upon the targeting strategy adopted by the central bank. This strategy describes a set of policy preferences, which are actually the structural parameters to analyse monetary policy making. Accordingly, we develop a novel calibration method to identify...

Purpose – The purpose of this paper is to describe the use of simple expert systems to improve the performance of tele‐operated mobile robots and ultrasonic sensor systems. The expert systems interpret data from the joystick and sensors and identify potentially hazardous situations and then...

Purpose – The purpose of this paper is to solve the trajectory planning problem of industrial robots in a complex environment. Design/methodology/approach – A simultaneous algorithm was presented in which the trajectory was generated gradually as the robot moves. It takes into account the...

Purpose – The purpose of this paper is to introduce a new manipulator structure to configure power‐assist devices in order to protect the operator from suffering musculoskeletal disorders. The mechanical structure and the control system along with their main features are presented....

This paper is concerned with international reserves where the accumulation of reserves is financed by public debt. Optimally controlled paths are used to illustrate the possibility of long term instability in a small macroeconomic system. The results indicate that reserve accumulation financed...

We formulate a mathematical model for the optimal control of the exchange rate. The control consists of a stochastic control, and an impulse control. We give general sufficient conditions for its solution. We consider a government that has two means of avoiding the foreign exchange rate...