The following information was submitted:
Transactions: WSEAS TRANSACTIONS ON BUSINESS AND ECONOMICS
Transactions ID Number: 29-176
Full Name: Reinhard Neck
Position: Professor
Age: ON
Sex: Male
Address: Klagenfurt University, Universitaetsstr. 65-67, 9020 Klagenfurt
Country: AUSTRIA
Tel: 2700 4121
Tel prefix: +43 463
Fax: 2700 4191
E-mail address: reinhard.neck@uni-klu.ac.at
Other E-mails: vwl2@uni-klu.ac.at
Title of the Paper: System-Theoretic Foundations of the Theory of Economic Policy
Authors as they appear in the Paper: Reinhard Neck
Email addresses of all the authors: reinhard.neck@uni-klu.ac.at
Number of paper pages: 10
Abstract: In this paper, we formulate a dynamic theory of economic policy using some concepts and axioms of mathematical system theory. First, the notion of a dynamic economic system is characterized axiomatically. Then the basic problem of the theory of economic policy as introduced by Tinbergen and Theil is expressed as a control problem for a dynamic economic system. In this way, a more general framework for the theory of economic policy than available so far can be developed in terms of mathematical system theory. Finally, we discuss some extensions of the framework, in particular to economic policy problems with more than one decision-maker.
Keywords: Dynamic system; System theory; Control theory; Economics; Economic policy; Modeling
EXTENSION of the file: .pdf
Special (Invited) Session: Plenary Lecture 3: A System-Theoretic Formulation of the Theory of Economic Policy
Organizer of the Session: 699-167
How Did you learn about congress: Gottfried Haber gottfried.haber@uni-klu.ac.at; Peter Winker peter.winker@wirtschaft.uni-giessen.de; Christian Richter c.richter@kingston.ac.uk; Jacob Engwerda j.c.engwerda@uvt.nl; Peter Flaschel pflaschel@wiwi.uni-bielefeld.de: Johannes Jaenicke johannes.jaenicke@uni-erfurt.de
IP ADDRESS: 143.205.74.203
