A mean-reverting stochastic model for the political business cycle

DOI10.1080/07362994.2015.1106321zbMath1336.93170OpenAlexW2215999428MaRDI QIDQ2798173

Mrinal K. Ghosh, Diganta Mukherjee, Gopal Krishna Basak

Publication date: 1 April 2016

Published in: Stochastic Analysis and Applications (Search for Journal in Brave)

Full work available at URL: https://doi.org/10.1080/07362994.2015.1106321

zbMATH Keywords

stochastic optimal controlrisk aversionNew Keynesian Phillips curvepolitical business cyclemean-reverting control

Mathematics Subject Classification ID

Application models in control theory (93C95) Macroeconomic theory (monetary models, models of taxation) (91B64) Optimal stochastic control (93E20) Applications of stochastic analysis (to PDEs, etc.) (60H30)

Related Items (1)

Estimation of intrinsic growth factors in a class of stochastic population model

Cites Work

• Optimal monetary policy rules with labor market frictions
• Optimal stochastic linear systems with exponential performance criteria and their relation to deterministic differential games

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