NDLI: Effects of "conservative" policy-makers and "liberal" executives in a simplified model of the national economy

Content Provider	IEEE Xplore Digital Library
Author	Drake, R.L.
Copyright Year	1997
Description	Author affiliation: Sch. of Eng., Tennessee Univ., Martin, TN, USA (Drake, R.L.)
Abstract	A highly-simplified model of the national economy is taken from available literature. Modifications are made to the model to account for differences in political and economic attitudes between the executive branch and the financial policy makers. The basic model form is that of a feedback system in which the measured national income is compared with a desired level to obtain a perceived "error" in national income. An executive branch is assumed with a "highly sensitive" or "liberal" reaction to perceived error in national income. A highly "conservative" reaction to perceived error in income is attributed to the financial policy makers and is accounted for in the closed-loop system by a nonlinearity denoted as deadzone in control system theory. The model of the feedback system is studied by varying parameters in a computer simulation using MATLAB software.
Starting Page	1257
Ending Page	1262
File Size	284210
Page Count	6
File Format	PDF
ISBN	0780340531
ISSN	1062922X
DOI	10.1109/ICSMC.1997.638132
Language	English
Publisher	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Publisher Date	1997-10-12
Publisher Place	USA
Access Restriction	Subscribed
Rights Holder	Institute of Electrical and Electronics Engineers, Inc. (IEEE)
Subject Keyword	Mathematical model Error correction Government Feedback Logic Computer errors Investments Nonlinear control systems Control systems Computer simulation
Content Type	Text
Resource Type	Article

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