New insights into optimal control of nonlinear dynamic econometric models : Application of a heuristic approach

@inproceedings{Blueschke2012NewII,
  title={New insights into optimal control of nonlinear dynamic econometric models : Application of a heuristic approach},
  author={Dimitri Blueschke and Viktoria Blueschke-Nikolaeva and I. Savin},
  year={2012}
}
Optimal control of dynamic econometric models has a wide variety of applications including economic policy relevant issues. There are several algorithms extending the basic case of a linear-quadratic optimization and taking nonlinearity and stochastics into account, but being still limited in a variety of ways, e.g., symmetry of the objective function and identical data frequencies of control variables. To overcome these problems, an alternative approach based on heuristics is suggested. To… CONTINUE READING