Introducing sliding modes in economics

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We propose a novel technique for modeling Economic theories (Sliding Modes or SM), but widely used as control models in Engineering. This initial experiment treats the inflation as a phenomenon to explain and control. The two main objectives of this work are: first, to contribute to mathematical Eco...

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Autores principales: Martínez, Cintia, Cirera, Eduardo Alberto
Formato: Artículo
Lenguaje:Inglés
Publicado: Instituto de Atenas para la Educación y la Investigación 2021
Materias:
Mathematical methods
Dynamic programming
Sliding modes
Macroeconomic policy
Inflation stabilization
Acceso en línea:http://repositorio.unne.edu.ar/handle/123456789/27755
Aporte de:
RIUNNE - Repositorio Institucional de la Universidad Nacional del Nordeste (UNNE) de Universidad Nacional del Nordeste
id I48-R184-123456789-27755
record_format dspace
institution Universidad Nacional del Nordeste
institution_str I-48
repository_str R-184
collection RIUNNE - Repositorio Institucional de la Universidad Nacional del Nordeste (UNNE)
language Inglés
topic Mathematical methods
Dynamic programming
Sliding modes
Macroeconomic policy
Inflation stabilization
spellingShingle Mathematical methods
Dynamic programming
Sliding modes
Macroeconomic policy
Inflation stabilization
Martínez, Cintia
Cirera, Eduardo Alberto
Introducing sliding modes in economics
topic_facet Mathematical methods
Dynamic programming
Sliding modes
Macroeconomic policy
Inflation stabilization
description We propose a novel technique for modeling Economic theories (Sliding Modes or SM), but widely used as control models in Engineering. This initial experiment treats the inflation as a phenomenon to explain and control. The two main objectives of this work are: first, to contribute to mathematical Economic modelling and second, the analysis of medium-high inflation in Latin American countries, and its undesirable social consequences. Here we propose SM for testing a traditional economic theory like an augmented Phillips curve in the form of a differential equations model. The first models of variable structure with sliding mode control were developed by Emelyanov and other authors as Utkins and Itkis in the early 1950s. Here we explain how a SM model works, its conditions and properties, in a theoretical way. The next step is to estimate values for the parameters of the system; for that, we have chosen the Chilean economy during the period 1985-2009. With the multiequational system and values of the parameters, simulations are held for controlling the variable inflation by means of money emission. The research ends with conclusions limited to the assumptions pertinent to the theory selected and the inherent simplification of this first simulation. Its selection is just a beginning, with the ambition of extending it to other hypothesis and theories testing.
format Artículo
author Martínez, Cintia
Cirera, Eduardo Alberto
author_facet Martínez, Cintia
Cirera, Eduardo Alberto
author_sort Martínez, Cintia
title Introducing sliding modes in economics
title_short Introducing sliding modes in economics
title_full Introducing sliding modes in economics
title_fullStr Introducing sliding modes in economics
title_full_unstemmed Introducing sliding modes in economics
title_sort introducing sliding modes in economics
publisher Instituto de Atenas para la Educación y la Investigación
publishDate 2021
url http://repositorio.unne.edu.ar/handle/123456789/27755
work_keys_str_mv AT martinezcintia introducingslidingmodesineconomics
AT cireraeduardoalberto introducingslidingmodesineconomics
bdutipo_str Repositorios
_version_ 1764820538873610243

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