Inderscience Publishers

Control under scarcity of the growth of wealth of nations: with examples from Austria and the USA

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The author postulates formulae for aggregate demand and its components z = C + I + X + G - consumption, C, investment, I, net export, X and government outlay, G and aggregate supply, S. By MATLAB and regression, z is confronted with data from Austria and the USA to deduce the right dynamics, a differential game of pursuit which is equivalent to a control system with control constraints. Conditions for controllability are given and their policy implications explored.

Keywords: optimal control, controllability, function space controllable, economic variables, regression, delay differential equations, stability

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