Policy modification for macro-economic systems resulting in reduced sensitivity to parameter perturbations
作者:
N. SUNDARARAJAN†,
J.B. CRUZ,
期刊:
International Journal of Systems Science
(Taylor Available online 1974)
卷期:
Volume 5,
issue 12
页码: 1193-1205
ISSN:0020-7721
年代: 1974
DOI:10.1080/00207727408920172
出版商: Taylor & Francis Group
数据来源: Taylor
摘要:
This paper describes application of a recent result in control system sensitivity reduction to economic policy modification for macroeconomic systems. A two-sector Phillips multiplier model is used as an example. By an appropriate reapportionment of non-feedback and feedback terms in the government policies in each sector, it is shown that the sensitivity with respect to model parameter variations of national income is reduced. This reduction is accomplished without changing the values of the sector state variables of the macroeconomic system when the parameters have nominal values. When the original policy leads to an optimal system, so does the modified policy. Furthermore, the modified policy always leads to a stable economy.
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