Control of Complex Economy through Fiscal Variables. Economics & Complexity - Spring - 1998 - Vol2 N1

Massimo Salzano

Public Economics from University Library of Munich, Germany

Abstract: The aim of this work is that of exemplifying some applications of the modern theory of the complexity to the economic sector; we will highlight some of the possibilities of control of chaotic systems and some of that possibilities which are opened by the study of such systems. Remembering how a simple traditional macroeconomic model can give place to deterministic chaotic phenomena we will highlight: a) how it is possible to control such a system using opportune values of the fiscal variables; b) how it is possible to foresee the trend of the objective variable through a neural network, and, therefore, subsequently to control it on the basis of the value instruments chosen by the neural network. This will be done either in the presence of casual noises or in the case of a completely deterministic model; c) finally a different and more recent method of controlling chaotic systems will be indicated.

Keywords: Public Finance; Complexity; Control of Economics; Macroeconomics (search for similar items in EconPapers)
JEL-codes: D6 D7 H (search for similar items in EconPapers)
Pages: 10 pages
Date: 2005-01-07
New Economics Papers: this item is included in nep-mic
Note: Type of Document - pdf; pages: 10
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Persistent link: https://EconPapers.repec.org/RePEc:wpa:wuwppe:0501003

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