Forward-looking variables in deterministic control (Q2365109): Difference between revisions
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Latest revision as of 10:37, 27 May 2024
scientific article
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English | Forward-looking variables in deterministic control |
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Forward-looking variables in deterministic control (English)
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27 October 1997
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A classical LQ (linear object, quadratic criterion) discrete-time optimization procedure is iteratively applied to find best values of specific deterministic forward-looking variables of system equations. In the first iteration the standard LQ problem is solved. From the beginning of the second iteration, the equation for the controlled object is different -- it contains exogenous variables with values taken from the previous optimal trajectory iteration (nominal path of exogenous variables). The chosen simulation examples demonstrate the applicability of the proposed method to a broad class of macroeconomic control problems.
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LQ discrete-time optimization procedure
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macroeconomic control problems
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