IDEAS home Printed from https://ideas.repec.org/a/adr/anecst/y1987i6-7p311-333.html
   My bibliography  Save this article

Optimization in Continuous Time and Policy Design in the Italian Economy

Author

Listed:
  • Giancarlo Gandolfo
  • Maria Luisa Petit

Abstract

After an introduction to the advantages of continuous time macroeconometric models, the authors briefly illustrate a macroeconometric model of the Italian economy specified as a system of 23 stochastic differential equations and show the application of optimal control techniques (based on Pontryagin's maximum principle) to this model. They illustrate the results obtained and examine their economic implications, amongst which the possibility of obtaining a better macroeconomic performance by means of a different policy mix.

Suggested Citation

  • Giancarlo Gandolfo & Maria Luisa Petit, 1987. "Optimization in Continuous Time and Policy Design in the Italian Economy," Annals of Economics and Statistics, GENES, issue 6-7, pages 311-333.
    • Handle: RePEc:adr:anecst:y:1987:i:6-7:p:311-333
    as

    Download full text from publisher

    File URL: http://www.jstor.org/stable/20075659
    Download Restriction: no
    ---><---

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:adr:anecst:y:1987:i:6-7:p:311-333. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Secretariat General or Laurent Linnemer (email available below). General contact details of provider: https://edirc.repec.org/data/ensaefr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.