Filtering and control of macroeconomic systems : a control system incorporating the Kalman filter for the Indian economy /

By:

Manohar Rao, M. J

Material type: Text

TextSeries: Contributions to economic analysisPublication details: Amsterdam ; New York : North-Holland ; New York, N.Y., U.S.A. : Sole distributors for the U.S.A. and Canada, Elsevier Science Pub. Co., c1987.Description: xii, 279 p. :illISBN:

0444701885 (Elsevier Science Pub. Co.)

Subject(s):

DDC classification:

339.5'0954 MAN

LOC classification:

HC435.2 .M34 1987

Summary: The work deals specifically with the construction of a Kalman filter mechanism, for deriving short-term optimal economic policies under conditions of uncertainty. It specifies and resolves a macro-econometric model which is linked to a unique observation sub-system of a given economy, congruent with the errors in information signalling which are prevalent within the data base context of most developing countries. An evaluation of control settings contrasts short and long-term economic policies. This indicates that an economy may `overheat' under protracted settings of instrument values around their optimal levels if the constraints on the system, in the form of external shocks, are too great to allow reaching all targets simultaneously using feasible instrument paths.

Tags from this library: No tags from this library for this title. Log in to add tags.

Average rating: 0.0 (0 votes)

Holdings
Item type	Current library	Collection	Call number	Status	Date due	Barcode
Monograph & others	CBN HQ Library General Stacks	Non-fiction	339.5'0954 MAN (Browse shelf(Opens below))	Available		31008100175302

Browsing CBN HQ Library shelves, Shelving location: General Stacks, Collection: Non-fiction Close shelf browser (Hides shelf browser)

Previous								Next
Previous	339.5'094 MON Monetary policy, fiscal policies, and labour markets :	339.5'094 MON Monetary policy, fiscal policies, and labour markets :	339.5'0941 ECO Econometric modelling :	339.5'0954 MAN Filtering and control of macroeconomic systems :	339.5'09669 ISS Issues in Macroeconomic Policy and Financial Management in Nigeria: essays in honour of Prof. Ndubuisi I. Nwokoma/	339.5'09669 ISS Issues in Macroeconomic Policy and Financial Management in Nigeria: essays in honour of Prof. Ndubuisi I. Nwokoma/	339.5'0973 BAT The battle against unemployment /	Next

Includes index.

Includes bibliographical references: p. 261-271.

The work deals specifically with the construction of a Kalman filter mechanism, for deriving short-term optimal economic policies under conditions of uncertainty. It specifies and resolves a macro-econometric model which is linked to a unique observation sub-system of a given economy, congruent with the errors in information signalling which are prevalent within the data base context of most developing countries. An evaluation of control settings contrasts short and long-term economic policies. This indicates that an economy may `overheat' under protracted settings of instrument values around their optimal levels if the constraints on the system, in the form of external shocks, are too great to allow reaching all targets simultaneously using feasible instrument paths.