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Books > Business & Economics > Business & management > Management & management techniques > Operational research
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Macroeconomic Analysis and Economic Policy Based on Parametric Control (Paperback, 2012 ed.)
Loot Price: R3,016
Discovery Miles 30 160
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Macroeconomic Analysis and Economic Policy Based on Parametric Control (Paperback, 2012 ed.)
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After the transition to free economy, governments of the former
Soviet republics realized that in spite of becoming a part of the
shaky international economic order, their individual economic
success can be assured by rational national economic policies that
in addition to the fundamental law of supply and demand govern the
economic mechanism sensitive to both external and internal
phenomena. Originally published in Russian and now translated in
English, this book by Dr. A. Ashimov and his colleagues offers a
novel theory providing a numerically-justifiable approach to the
solution of major economy control problems that are faced by
virtually every government in the world. First, they developed and
validated numerous mathematical models describing complex
interactions between economic and social factors thus enabling the
decision makers to foresee the outcomes of their decisions. Second,
on the basis of these models the authors formulated the appropriate
control problems that could be interpreted as achieving the
transition to the desirable economic regimes and maintaining these
regimes in spite of initial conditions and both external and
internal perturbations. It should be noted that due to the inherent
uncertainty introduced by the use of statistical models, the
nonlinearity of the underlying phenomena and the intention to
obtain the optimal solutions, the solution process becomes quite
intricate and calls for the application of the most sophisticated
techniques offered in advanced control theory. The authors utilized
the most instrumental statistical model validation techniques; they
established sufficient conditions for the existence of optimal
solutions of the relevant control problems; and they skillfully
combined the applications of the phase space formalism, system
stability analysis, and the methods of functional analysis.
Finally, they developed algorithms resulting in the optimal problem
solutions, thus offering economic policy makers a dependable
decision support tool. Macroeconomic Analysis and Economic Policy
Based on Parametric Control offers a novel, highly mathematical
approach to the solution of very realistic economy control
problems. It presents a good example of the application of
mathematical modeling, advanced control theory, and model-based
decision making that could be adopted by researchers and graduate
students specializing in economics, control, and relevant areas of
research, addressing their own research problems.
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