EFFICIENT STABILIZATION OF ECONOMIC-SYSTEMS - SOME GLOBAL ANALYTICAL RESULTS FOR THE LINEAR QUADRATIC CASE

被引：2

作者：

DELEAU, M ^{[1
]}

MALGRANGE, P ^{[1
]}

机构：

[1] ECOLE NATL PONTS & CHAUSSEES, PARIS, FRANCE

来源：

EUROPEAN ECONOMIC REVIEW | 1979年 / 12卷 / 01期

关键词：

D O I：

10.1016/0014-2921(79)90011-4

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper gives analytical results about the global properties of efficiently stabilized linear-quadratic systems. We prove that the process of computing optimal policies can be decomposed into a combinatorial process, any optimal policy being a linear combination of 'extreme policies' with remarkable weights. Very strong results are available when there is one instrument less than objectives, the 'uncertainty frontier' being then reduced to a hyperplane in the space of standard errors. It is proved furthermore that these results can be extended to dynamic stationary efficient stabilization. An illustration is given on the basis of a small macroeconometric model. © 1979.

引用

页码：17 / 51

页数：35