By Fradkov A. L.

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Extra resources for 43rd International Conference on Decision and Control (IEEE CDC 2004)

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In the beer demand study in 1936, referred to above, he had introduced it as an additional data source needed due to lack of price variation in the data. His econometric studies, particularly Frisch (1938), gave him additional reasons, namely lack of autonomy in the relationships that could be determined econometrically. He set this out in a speech in 1948: "It is very seldom indeed that we have a clear case where the statistical data can actually determine numerically an autonomous structural equation.

Own target ... yi ... ... j ... ·.. Y1j ... ·.. , Yij ... Y, ... ·.. 2 inflation ... . " Yi+2,j ... Ynj ... , k ·.. · . , Y1k · .. ... Yik · .. - Yi+2,k · .. .. , Ynk .. Yk 100 The information collected in 1977 concerned the vectors U and y* mentioned above. In 1983 the vector p was added. Often respondents added all kinds of comments and alternative views on the economic policy to pursue. These comments were very welcome for the interpretation and evaluation of the results. The inquiry of 1977 also contained questions around qualitative policy variables.

In Merkies and Nijman (1981a) linear functions were tried as a first approach to the problem . They are of little use in optimal control as they do not provide stationary points. Kunstman (1978) proposed to use in such cases functions of the form In Merkies and Nijman (1981a) it was also found that respondents sometimes have asymmetric preferences with respect to certain target variables, see also Pindyck (1973). Such asymmetries were not looked for in later experiments. A way to approach such asymmetries is given by Friedman (1975) who defined v, b" ~ o.

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43rd International Conference on Decision and Control (IEEE CDC 2004) by Fradkov A. L.


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