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United States current account deficits: A stochastic optimal control analysis 1

Jerome L. Stein

in Stochastic Optimal Control, International Finance, and Debt Crises

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199280575
eISBN:
9780191603501
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280576.003.0009
Subject:
Economics and Finance, Financial Economics

For nearly a quarter of a century, the US has persistently run significant current account deficits that transformed it from the world’s largest net creditor to its largest debtor. The stochastic ... More


Country default risk in emerging markets 1

Jerome L. Stein

in Stochastic Optimal Control, International Finance, and Debt Crises

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199280575
eISBN:
9780191603501
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280576.003.0007
Subject:
Economics and Finance, Financial Economics

Early Warning Signals of a default or debt crisis are derived by drawing upon the stochastic optimal control model of an optimal and excessive short-term debt developed in chapter 2. Operational ... More


Stochastic Optimal Control

Tomas Björk

in Arbitrage Theory in Continuous Time

Published in print:
2004
Published Online:
October 2005
ISBN:
9780199271269
eISBN:
9780191602849
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199271267.003.0019
Subject:
Economics and Finance, Financial Economics

This chapter analyses the stochastic optimal control problem. The problem considers an economic agent over a fixed time interval [0, T]. At time t = 0, the agent is endowed with initial wealth x0, ... More


Asian crises: Theory, evidence, warning Signals 1

Jerome L. Stein

in Stochastic Optimal Control, International Finance, and Debt Crises

Published in print:
2006
Published Online:
May 2006
ISBN:
9780199280575
eISBN:
9780191603501
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0199280576.003.0008
Subject:
Economics and Finance, Financial Economics

The Asian financial crises were unexpected by the market and many countries in the region experienced it at about the same time. Drawing upon the theoretical analyses in chapters 2-4, an operational ... More


Optimal Control Theory

Thomas A. Weber

in Optimal Control Theory with Applications in Economics

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262015738
eISBN:
9780262298483
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262015738.003.0003
Subject:
Mathematics, Probability / Statistics

This chapter introduces the notion of a controllable system, which is a system that can be moved using available controls from one state to another. The chapter is organized as follows. Section 3.2 ... More


Optimal Control Theory

Emanuel Todorov

in Bayesian Brain: Probabilistic Approaches to Neural Coding

Published in print:
2006
Published Online:
August 2013
ISBN:
9780262042383
eISBN:
9780262294188
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262042383.003.0012
Subject:
Neuroscience, Disorders of the Nervous System

Optimal control theory is a mathematical discipline for studying the neural control of movement. This chapter presents a mathematical introduction to optimal control theory and discusses the ... More


Optimal Resource Allocations

Lars Peter Hansen and Thomas J. Sargent

in Recursive Models of Dynamic Linear Economies

Published in print:
2013
Published Online:
October 2017
ISBN:
9780691042770
eISBN:
9781400848188
Item type:
chapter
Publisher:
Princeton University Press
DOI:
10.23943/princeton/9780691042770.003.0005
Subject:
Economics and Finance, History of Economic Thought

This chapter describes a planning problem that generates competitive equilibrium allocations and compares two methods for solving it. The first method uses state- and date-contingent Lagrange ... More


Microeconomic Responses to Macroeconomic Reforms: The Optimal Control of Soil Erosion

Scott Barrett

in The Environment and Emerging Development Issues: Volume 2

Published in print:
2000
Published Online:
September 2007
ISBN:
9780199240708
eISBN:
9780191718106
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199240708.003.0009
Subject:
Economics and Finance, Development, Growth, and Environmental

This chapter aims to determine precisely how macroeconomic and sectoral policies influence soil conservation with the use of an optimal control model. It shows that in general, it is not possible to ... More


Modelling biodiversity and ecosystem services in coupled ecological–economic systems

William A. Brock, David Finnoff, Ann P. Kinzig, Unai Pascual, Charles Perrings, John Tschirhart, and Anastasios Xepapadeas

in Biodiversity, Ecosystem Functioning, and Human Wellbeing: An Ecological and Economic Perspective

Published in print:
2009
Published Online:
September 2009
ISBN:
9780199547951
eISBN:
9780191720345
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199547951.003.0019
Subject:
Biology, Ecology, Biodiversity / Conservation Biology

This chapter considers how economists model biodiversity in coupled social ecological systems, taking two polar cases along with a more general problem. Economists assume that all human decisions are ... More


Paul Samuelson and Financial Economics

Robert C. Merton

in Samuelsonian Economics and the Twenty-First Century

Published in print:
2006
Published Online:
January 2009
ISBN:
9780199298839
eISBN:
9780191711480
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199298839.003.0019
Subject:
Economics and Finance, History of Economic Thought

This chapter's appraisal places models of time and uncertainty in household allocation of resources at the center of the Samuelson Contribution. It assesses Samuelson's contributions to the areas of ... More


Monitoring and management

Cang Hui and David M. Richardson

in Invasion Dynamics

Published in print:
2017
Published Online:
March 2017
ISBN:
9780198745334
eISBN:
9780191807046
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198745334.003.0009
Subject:
Biology, Ecology, Biomathematics / Statistics and Data Analysis / Complexity Studies

This chapter focuses on approaches for efficient monitoring and management of established invasive species. Essential variables for monitoring and reporting and the requirements for practical ... More


Stochastic Optimal Control

Tomas Björk

in Arbitrage Theory in Continuous Time

Published in print:
1998
Published Online:
November 2003
ISBN:
9780198775188
eISBN:
9780191595981
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/0198775180.003.0014
Subject:
Economics and Finance, Financial Economics

This chapter gives a self‐contained introduction to optimal control of stochastic differential equations. We derive the Hamilton‐Jacobi‐Bellman equation as well as a verification theorem. The general ... More


Monetary Policy Mistakes and the Evolution of Inflation Expectations

Athanasios Orphanides and John C. Williams

in The Great Inflation: The Rebirth of Modern Central Banking

Published in print:
2013
Published Online:
September 2013
ISBN:
9780226066950
eISBN:
9780226043555
Item type:
chapter
Publisher:
University of Chicago Press
DOI:
10.7208/chicago/9780226043555.003.0008
Subject:
Economics and Finance, Macro- and Monetary Economics

This chapter uses a three-equation model based on a New Keynesian Phillips curve, real-time data on the unemployment gap, and forecasted survey data on expected inflation to test the efficiency of ... More


Optimization

Alice Turk and Stefanie Shattuck-Hufnagel

in Speech Timing: Implications for Theories of Phonology, Phonetics, and Speech Motor Control

Published in print:
2020
Published Online:
April 2020
ISBN:
9780198795421
eISBN:
9780191836725
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198795421.003.0008
Subject:
Linguistics, Phonetics / Phonology

This chapter introduces a theoretical framework, Optimal Control Theory, which will enable a phonology-extrinsic-timing-based, three-component model to determine values of controlled variables, and ... More


Introduction

Thomas A. Weber

in Optimal Control Theory with Applications in Economics

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262015738
eISBN:
9780262298483
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262015738.003.0001
Subject:
Mathematics, Probability / Statistics

This chapter first sets out the book’s purpose, which is to introduce continuous-time systems and methods for solving dynamic optimization problems at three different levels: single-person decision ... More


Optimal Control Theory with Applications in Economics

Thomas A. Weber

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262015738
eISBN:
9780262298483
Item type:
book
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262015738.001.0001
Subject:
Mathematics, Probability / Statistics

This book bridges optimal control theory and economics, discussing ordinary differential equations (ODEs), optimal control, game theory, and mechanism design in one volume. Technically rigorous and ... More


Modern Growth Theory

Dipankar Dasgupta

Published in print:
2010
Published Online:
October 2012
ISBN:
9780198069966
eISBN:
9780199080458
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780198069966.001.0001
Subject:
Economics and Finance, Macro- and Monetary Economics

This book is about growth theory, an important subject taught as a part of economic theory. It introduces the literature on growth and inequality and examines Charles Jones’s views on growth ... More


Dynamics and Optimal Control of Road Vehicles

D. J. N. Limebeer and Matteo Massaro

Published in print:
2018
Published Online:
April 2019
ISBN:
9780198825715
eISBN:
9780191864636
Item type:
book
Publisher:
Oxford University Press
DOI:
10.1093/oso/9780198825715.001.0001
Subject:
Physics, Condensed Matter Physics / Materials

The broad aim of this book is to provide a comprehensive coverage of the modelling and optimal control of both two‐ and four‐wheeled road vehicles. The first focus of this book is a review of ... More


Strong-field phenomena and optimal control

Carsten A. Ullrich

in Time-Dependent Density-Functional Theory: Concepts and Applications

Published in print:
2011
Published Online:
December 2013
ISBN:
9780199563029
eISBN:
9780191775130
Item type:
chapter
Publisher:
Oxford University Press
DOI:
10.1093/acprof:oso/9780199563029.003.0016
Subject:
Physics, Condensed Matter Physics / Materials

This chapter focuses on electronic phenomena that occur when atoms and molecules are exposed to strong and short laser pulses. Under these conditions, the external potential cannot be treated as a ... More


Mechanism Design

Thomas A. Weber

in Optimal Control Theory with Applications in Economics

Published in print:
2011
Published Online:
August 2013
ISBN:
9780262015738
eISBN:
9780262298483
Item type:
chapter
Publisher:
The MIT Press
DOI:
10.7551/mitpress/9780262015738.003.0005
Subject:
Mathematics, Probability / Statistics

This chapter reviews the basics of static mechanism design in settings where a principal faces a single agent of uncertain type. The aim of the resulting screening contract is for the principal to ... More


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