Dynamic path controllability in economic models


Maas, W.C.A. and Nijmeijer, H. (1994) Dynamic path controllability in economic models. Journal of Economic Dynamics & Control, 18 (3-4). pp. 781-805. ISSN 0165-1889

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Abstract:In this paper we study the dynamic path controllability of discrete-time nonlinear economic models in state-space form. First we present an algorithmic procedure for testing this property for time-varying linear systems. Secondly we extend this method to general nonlinear models and we show that under generic conditions path controllability around a specific trajectory of the nonlinear system is equivalent to path controllability of the corresponding linearized model. The results are illustrated with two economic examples.
Item Type:Article
Copyright:© 1994 Elsevier Science
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Link to this item:http://purl.utwente.nl/publications/30230
Official URL:https://doi.org/10.1016/0165-1889(94)90031-0
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