Title :
Parametrical Regulation of Economic Growth Based on the Stochastic Computable Model of General Equilibrium with Knowledge Sector
Author :
Ashimov, Askar A. ; Sultanov, Bahyt T. ; Adilov, Zheksenbek M. ; Borovskiy, Yuriy V. ; Suissenbayev, D.K.
Author_Institution :
Parametrical Regul., Kazakh Nat. Tech. Univ., Almaty, Kazakhstan
Abstract :
The paper aims to present one new method of parametrical identification, the results of development of the parametrical regulation theory and to show the application efficiency of the proposed method of identification and theoretical results for solving the respective problems of application. The paper describes the proposed method of parametrical identification, we formulated and proved the theorems about the conditions for the existence of one of the problems of variational calculus on the synthesis of the optimal law of parametrical regulation and about the conditions for continuous dependence of optimal values of the criterion of the given problem on unregulated parameters applying the mathematical objects of a discrete stochastic control system. The problems of parametrical identification of the calculated general equilibrium model with knowledge sector were solved effectively. Also we show the efficiency of determining the optimal values (in sense of the criterion, that characterizes economic growth) of the parameters of deterministic and stochastic versions of the computable general equilibrium model with knowledge sector.
Keywords :
economics; parameter estimation; stochastic processes; variational techniques; discrete stochastic control system; economic growth; general equilibrium model; knowledge sector; mathematical object; optimal law; parametrical identification; parametrical regulation; stochastic computable model; variational calculus; Additive noise; Calculus; Computational modeling; Economics; Equations; Mathematical model; Stochastic processes;
Conference_Titel :
Management and Service Science (MASS), 2011 International Conference on
Conference_Location :
Wuhan
Print_ISBN :
978-1-4244-6579-8
DOI :
10.1109/ICMSS.2011.5999370