Dynamic path controllability in economic models

W.C.A. Maas; W.C.A. Maas; Henk Nijmeijer

doi:10.1016/0165-1889(94)90031-0

Dynamic path controllability in economic models

W.C.A. Maas, W.C.A. Maas, Henk Nijmeijer

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Abstract

In this paper we study the dynamic path controllability of discrete-time nonlinear economic models in state-space form. First we present an algorithmic procedure for testing this property for time-varying linear systems. Secondly we extend this method to general nonlinear models and we show that under generic conditions path controllability around a specific trajectory of the nonlinear system is equivalent to path controllability of the corresponding linearized model. The results are illustrated with two economic examples.

Original language	Undefined
Pages (from-to)	781-805
Number of pages	25
Journal	Journal of economic dynamics & control
Volume	18
Issue number	18
DOIs	https://doi.org/10.1016/0165-1889(94)90031-0
Publication status	Published - 1994

Keywords

METIS-140870
IR-30230

Access to Document

10.1016/0165-1889(94)90031-0

Maas94dynamic

Cite this

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title = "Dynamic path controllability in economic models",

abstract = "In this paper we study the dynamic path controllability of discrete-time nonlinear economic models in state-space form. First we present an algorithmic procedure for testing this property for time-varying linear systems. Secondly we extend this method to general nonlinear models and we show that under generic conditions path controllability around a specific trajectory of the nonlinear system is equivalent to path controllability of the corresponding linearized model. The results are illustrated with two economic examples.",

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year = "1994",

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AU - Maas, W.C.A.

AU - Nijmeijer, Henk

PY - 1994

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N2 - In this paper we study the dynamic path controllability of discrete-time nonlinear economic models in state-space form. First we present an algorithmic procedure for testing this property for time-varying linear systems. Secondly we extend this method to general nonlinear models and we show that under generic conditions path controllability around a specific trajectory of the nonlinear system is equivalent to path controllability of the corresponding linearized model. The results are illustrated with two economic examples.

AB - In this paper we study the dynamic path controllability of discrete-time nonlinear economic models in state-space form. First we present an algorithmic procedure for testing this property for time-varying linear systems. Secondly we extend this method to general nonlinear models and we show that under generic conditions path controllability around a specific trajectory of the nonlinear system is equivalent to path controllability of the corresponding linearized model. The results are illustrated with two economic examples.

KW - METIS-140870

KW - IR-30230

U2 - 10.1016/0165-1889(94)90031-0

DO - 10.1016/0165-1889(94)90031-0

M3 - Article

SN - 0165-1889

VL - 18

SP - 781

EP - 805

JO - Journal of economic dynamics & control

JF - Journal of economic dynamics & control

IS - 18

ER -