Performance Improvement of Uncertain Macroeconomic Systems
Two issues dominate the macroeconomic literature on stabilization: (1) Stabilizability: Can the economic system be steered toward a specific target and kept closely on course? (2) Optimizability: Can the stabilization program be designed according to some optimality criterion?
KeywordsLyapunov Function Asymptotic Stability Welfare Loss Stabilization Policy Input Uncertainty
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