Model Reference Control for an Economic Growth Cycle Model
A useful method in intelligent engineering, called model reference control (MRC), is applied in an economic control problem. The authors review the main framework of MRC and Goodwin growth cycle (GGC) model between two countries and drive the employment rate to be approximate stable in a high level...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Wiley
2012-01-01
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| Series: | Journal of Applied Mathematics |
| Online Access: | http://dx.doi.org/10.1155/2012/384732 |
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| Summary: | A useful method in intelligent engineering, called model reference
control (MRC), is applied in an economic control problem. The authors review the
main framework of MRC and Goodwin growth cycle (GGC) model between two
countries and drive the employment rate to be approximate stable in a high level
by controlling the workers' share in the national income automatically. It is very
helpful to constitute economic policies for a country or an economic union. |
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| ISSN: | 1110-757X 1687-0042 |