System-Theoretic Methods in Economic Modelling I book cover

System-Theoretic Methods in Economic Modelling I

The value of applying system-theoretic concepts to economic modelling problems arises from the fact that it offers a unifying framework for modelling dynamic systems. In addition to offering this powerful conceptual framework, it provides a wide range of tools useful in applied work. System-theoretic techniques enter predominantly two stages of economic modelling efforts: the stage of model construction and the stage of model application in accordance with the modelling. The objective of this and subsequent volumes on System-Theoretic Methods in Economic Modelling I is to initiate and/or intensify dialogues between researchers and practitioners within and across the disciplines involved. This first volume brings together papers exhibiting a wide range of system-theoretic techniques and applications to economic problems. The papers have been divided into two groups, following roughly--but not necessarily--the above classification into the construction and application stages of economic modelling. The papers in the first group focus on the identification of dynamic and static systems, while the papers in the second group address dynamic optimization problems.

Audience
For graduates and lecturers in economics, finance, econometrics, statistics, applied mathematics and systems science.

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Published: May 1989

Imprint: Pergamon

ISBN: 978-0-08-037228-0

Contents

  • Preface, S Mittnik. A two-step state space time series modeling method, M Aoki. System theoretic time series: an application to inventories and prices of California range cattle, A M Havenner & K R Criddle. Multivariate time series analysis with state space models, S Mittnik. Optimal forecasting of discrete stock and flow data generated by a higher order continuous time system, A R Bergstrom. Time-varying linear regression via flexible least squares, R Kalaba & L Tesfatsion. Nonstationary time series identification, H-F Chen & L Guo. The coding theorem and ordinary least-squares models in economics, W D O'Neill. The information tableau of a linear allocation model, H Theil & C-F Chung. The prejudices of least squares, principal components and common factors schemes, C A Los. Identification of a linear system from inexact data: a three-variable example, C A Los. A superlinearly convergent constrained min-max algorithm for rival models of the same system, B Rustem. Cost-benefit analysis with switching regimes: an application of the theory of planning, E Sheshinski & M D Intriligator. An integrated system model for fishery management process--I. Model structure, E Tse & A Khilnani. A lattice-theoretic approach to a class of dynamic games, R Amir.

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