NDLI: Research on applications of linear system theory in economics

Content Provider	IEEE Xplore Digital Library
Author	Daju Xu Weiping Wang
Copyright Year	2010
Description	Author affiliation: Department of Mathematics and Physics, Shandong Jiaotong University, Jinan, China (Daju Xu) \|\| Weiping Wang is with College Office, University of International Relations, Beijing, China (Weiping Wang)
Abstract	It is well known that the basic researches about linear systems are the most and the simplest ones and that linear systems are widely applied in many subjects including economics. Based on Input-Output Analysis, a country's economy can be considered as a complex system that could be described by mathematical and linear models. Then the linear economic models could be analyzed using linear system theory and Positive Eigenvector Method suggested by Luogeng Hua. For closed and dynamic economic system, the conclusion is that it is not stable but active. For a kind of open linear economic system, it is active if and only if the gross input coefficient should be bigger than a limit. However active economic system does not mean growing. To ensure the economic system growing, two conditions are necessary and sufficient. One is the gross input coefficient should be bigger than another limit, and the other condition is that it should be linear correlation between the original input structure and the positive right eigenvector of the direct consumption coefficient matrix. In an empirical analysis for China between 1987 and 2007, results are calculated for the biggest eigenvalues of the direct consumption coefficient matrices.
Starting Page	1843
Ending Page	1847
File Size	99626
Page Count	5
File Format	PDF
ISBN	9781424451951
ISSN	19483457
DOI	10.1109/ICCA.2010.5524355
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	2010-06-09
Publisher Place	China
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Linear systems Macroeconomics Equations Production systems Vectors Eigenvalues and eigenfunctions Control systems Mathematical model Automatic control Automation Positive Eigenvector Method Input-Output Analysis linear system theory matrix's biggest eigenvalue
Content Type	Text
Resource Type	Article

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