Macroeconomic cybernetics. Vol.I Growth, balance and macroeconomic adjustment by fiscal policy

Macroeconomic cybernetics. Vol.I Growth, balance and macroeconomic adjustment by fiscal policy

Autors: Ana Michaela Andrei,Imperato Antonio,Gheorghe Oprescu

Year of appearance: 2007

ISBN: 978-973-594-904-4 /978-973-594-955-4

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The work, conceived by the authors in two volumes, is a cybernetic approach to dynamic macroeconomic systems, bringing a touch of knowledge by applying the principles and methods of economic cybernetics, the techniques of dynamic optimization and optimal control, the procedures for dynamic analysis of sensitivity, the possibility of observation (deterministic and stochastic) and control in order of substantiation of the best fiscal policy, monetary and foreign exchange.
First volume starts with one of the most intensely debated topics in literature, namely economic growth, developing, then, from the perspective of cybernetics, the theory of cyclical fluctuations problems, the dynamics of open economies and budget deficits and fiscal policies.
In the second volume, the authors aim for a broad theme of macroeconomic imbalances (inflation and monetary policy, unemployment, investment, consumption) and their adjustment mechanisms.
Returning to this volume, in Chapter 1, specific techniques of economic dynamics are used in researching and modeling economic growth, the approach taken both in the sense of traditional theory, and in that of new theories of economic growth. The models developed are nonlinear, qualitative analysis of optimal economic growth path of "golden rule" is the representation of phase space, highlighting an evolution path " saddle point", and for stability research has been used the linearization in state-space and Olech theorem.
We leave the students of Cybernetics, Statistics and Economic Informatics, master and doctoral students, and all those interested or specialize in this problem, the pleasure to discover the scientific content of this book ...

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