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

Author

Listed:
  • Salzano Massimo

    (Università di Salerno Dipartimento di Scienze Economiche e Statistiche)

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.

Suggested Citation

  • Salzano Massimo, 2005. "Control of Complex Economy through Fiscal Variables. Economics & Complexity - Spring - 1998 - Vol2 N1," Public Economics 0501003, University Library of Munich, Germany.
  • Handle: RePEc:wpa:wuwppe:0501003
    Note: Type of Document - pdf; pages: 10
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    File URL: https://econwpa.ub.uni-muenchen.de/econ-wp/pe/papers/0501/0501003.pdf
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    More about this item

    Keywords

    Public Finance; Complexity; Control of Economics; Macroeconomics;

    JEL classification:

    • D6 - Microeconomics - - Welfare Economics
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • H - Public Economics

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