Flatness-based control and Kalman filtering for a continuous-time macroeconomic model

Rigatos, Gerasimos, Siano, P., Ghosh, T., Busawon, Krishna and Binns, Richard (2017) Flatness-based control and Kalman filtering for a continuous-time macroeconomic model. In: ICCMSE 2017 - International Conference of Computational Methods in Sciences and Engineering 2017, 21st - 25th April 2017, Thessaloniki, Greece.

Full text not available from this repository.
Official URL: http://dx.doi.org/10.1063/1.5012323


The article proposes flatness-based control for a nonlinear macro-economic model of the UK economy. The differential flatness properties of the model are proven. This enables to introduce a transformation (diffeomorphism) of the system's state variables and to express the state-space description of the model in the linear canonical (Brunowsky) form in which both the feedback control and the state estimation problem can be solved. For the linearized equivalent model of the macroeconomic system, stabilizing feedback control can be achieved using pole placement methods. Moreover, to implement stabilizing feedback control of the system by measuring only a subset of its state vector elements the Derivative-free nonlinear Kalman Filter is used. This consists of the Kalman Filter recursion applied on the linearized equivalent model of the financial system and of an inverse transformation that is based again on differential flatness theory. The asymptotic stability properties of the control scheme are confirmed.

Item Type: Conference or Workshop Item (Paper)
Uncontrolled Keywords: approximate linearization, asymptotic stability, chaotic finance dynamics, H-infinity control, nonlinear optimal control, Riccati equation, Taylor series expansion
Subjects: G300 Statistics
L100 Economics
Department: Faculties > Engineering and Environment > Mathematics, Physics and Electrical Engineering
Depositing User: Paul Burns
Date Deposited: 14 Nov 2018 16:18
Last Modified: 11 Oct 2019 18:30
URI: http://nrl.northumbria.ac.uk/id/eprint/36692

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