Nonnegative Approximate Solutions to an Econometric Model with Prescribed Goals

Rolando Danao
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Rolando Danao: School of Economics, University of the Philippines Diliman

No 198205, UP School of Economics Discussion Papers from University of the Philippines School of Economics

Abstract: Given a linear economic model y* = ðx + b were y* is a prescribed goal vector, a linear programming problem can be used to determine the existence and uniqueness of a nonnegative instrument vector x that attains the goal and obtain such a vector if it exists. If the system y* = ðx + b does not have a solution, the approximate solution x = ðx(y*- b), where ð is the generalized inverse of ð, determines a vector ŷ = ðx that is as close as possible to y* in terms of the Euclidean distance. In this case, a linear programming problem can also be used to determine the existence and uniqueness of a nonnegative approximate solution and obtain such a solution if it exists.

Date: 1982-04
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Published as UPSE Discussion Paper No. 1982-05, April 1982

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