Optimal Trajectories of the Innovation Process and Their Matching with Econometric Data

S.A. Reshmin, A.M. Tarasyev and C. Watanabe
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S.A. Reshmin: Institute for Problems in Mechanics
A.M. Tarasyev: International Institute for Applied Systems Analysis
C. Watanabe: Tokyo Institute of Technology

Journal of Optimization Theory and Applications, 2002, vol. 112, issue 3, No 10, 639-655

Abstract: Abstract A dynamical model of optimal economic growth is used for the comparison of catalogs of real econometric data and synthetic growth scenarios. The model is calibrated on a database of the Tokyo Institute of Technology. Special attention is paid to the aggregated data of the Japanese manufacturing industry in the period 1960–92. A description of an algorithm modeling optimal trends in the technological dynamics is given.

Keywords: Dynamic optimality principles; economic growth; control synthesis; saddle-type equilibrium; asymptotic econometric characteristics (search for similar items in EconPapers)
Date: 2002
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DOI: 10.1023/A:1017924301798

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