A Note on Aoki's Conditions for Path Controllability of Continuous-Time Dynamic Economic Systems

Hans-Werner Wohltmann

The Review of Economic Studies, 1984, vol. 51, issue 2, 343-349

Abstract: In this note we discuss necessary and sufficient conditions for dynamic path controllability, and show that the rank condition in Aoki (1975) is necessary but not sufficient unless impulse controls are admissible. It is demonstrated that in the special case of state space targets Tinbergen's concept of static controllability is equivalent to the dynamic concept of path controllability. For general linear systems conditions for path controllability depend on the choice of the admissible target and instrument space. In contrast to discrete-time models Tinbergen's original counting rule is necessary for path controllability for any target and instrument space in the continuous-time framework.

Date: 1984
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.2307/2297697 (application/pdf)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:oup:restud:v:51:y:1984:i:2:p:343-349.

Access Statistics for this article

The Review of Economic Studies is currently edited by Thomas Chaney, Xavier d’Haultfoeuille, Andrea Galeotti, Bård Harstad, Nir Jaimovich, Katrine Loken, Elias Papaioannou, Vincent Sterk and Noam Yuchtman

More articles in The Review of Economic Studies from Review of Economic Studies Ltd
Bibliographic data for series maintained by Oxford University Press ().