Jove
Visualize
Contact Us
JoVE
x logofacebook logolinkedin logoyoutube logo
ABOUT JoVE
OverviewLeadershipBlogJoVE Help Center
AUTHORS
Publishing ProcessEditorial BoardScope & PoliciesPeer ReviewFAQSubmit
LIBRARIANS
TestimonialsSubscriptionsAccessResourcesLibrary Advisory BoardFAQ
RESEARCH
JoVE JournalMethods CollectionsJoVE Encyclopedia of ExperimentsArchive
EDUCATION
JoVE CoreJoVE BusinessJoVE Science EducationJoVE Lab ManualFaculty Resource CenterFaculty Site
Terms & Conditions of Use
Privacy Policy
Policies

Related Experiment Video

Updated: Sep 27, 2025

An R-Based Landscape Validation of a Competing Risk Model
05:37

An R-Based Landscape Validation of a Competing Risk Model

Published on: September 16, 2022

2.2K

Resilient Control for Macroeconomic Models.

David Hudgins1, Patrick M Crowley2

  • 1Corpus Christi, TX 78412 USA Department of Decision Sciences and Economics, College of Business, OCNR 375, 6300 Ocean Drive, Texas A & M University - Corpus Christi.

Computational Economics
|April 11, 2022
PubMed
Summary
This summary is machine-generated.

Related Concept Videos

Econometric Views (EViews)01:29

Econometric Views (EViews)

273
Econometric Views, often stylized as EViews, is a package that merges statistical analysis with econometric studies. It is designed to provide tools for time series analysis, forecasting, and econometric model simulation. The software originated from MicroTSP software and has evolved significantly since its inception in 1981. The history of EViews is marked by a continuous effort to enhance its computational speed and user interface. It was initially developed for large computing systems but...
273
Parameters Affecting Nonlinear Elimination: Zero-Order Input, First-Order Absorption and Two-Compartment Model01:13

Parameters Affecting Nonlinear Elimination: Zero-Order Input, First-Order Absorption and Two-Compartment Model

130
Drugs administered through various routes can lead to nonlinear elimination, resulting in complex pharmacokinetic behaviors crucial to understanding efficacious drug dosing.
When a drug is administered through a constant intravenous infusion and eliminated via nonlinear pharmacokinetics, it follows zero-order input. For example, oral drugs undergo first-order absorption upon administration and are eliminated through nonlinear pharmacokinetics.
In the case of subcutaneously administered drugs,...
130
Mechanistic Models: Compartment Models in Individual and Population Analysis01:23

Mechanistic Models: Compartment Models in Individual and Population Analysis

89
Mechanistic models are utilized in individual analysis using single-source data, but imperfections arise due to data collection errors, preventing perfect prediction of observed data. The mathematical equation involves known values (Xi), observed concentrations (Ci), measurement errors (εi), model parameters (ϕj), and the related function (ƒi) for i number of values. Different least-squares metrics quantify differences between predicted and observed values. The ordinary least...
89
Transient and Steady-state Response01:24

Transient and Steady-state Response

291
In control systems, test signals are essential for evaluating performance under various conditions. The ramp function is effective for systems undergoing gradual changes, while the step function is suitable for assessing systems facing sudden disturbances. For systems subjected to shock inputs, the impulse function is the most appropriate test signal.
These test signals are integral in designing control systems to exhibit two key performance aspects: transient response and steady-state...
291
Dynamic Equilibrium02:20

Dynamic Equilibrium

55.3K
A reversible chemical reaction represents a chemical process that proceeds in both forward (left to right) and reverse (right to left) directions. When the rates of the forward and reverse reactions are equal, the concentrations of the reactant and product species remain constant over time and the system is at equilibrium. A special double arrow is used to emphasize the reversible nature of the reaction. The relative concentrations of reactants and products in equilibrium systems vary greatly;...
55.3K
Residuals and Least-Squares Property01:11

Residuals and Least-Squares Property

7.9K
The vertical distance between the actual value of y and the estimated value of y. In other words, it measures the vertical distance between the actual data point and the predicted point on the line
If the observed data point lies above the line, the residual is positive, and the line underestimates the actual data value for y. If the observed data point lies below the line, the residual is negative, and the line overestimates the actual data value for y.
The process of fitting the best-fit...
7.9K

You might also read

Related Articles

Articles linked to this work by shared authors, journal, and citation graph.

Sort by
Same journal

Opinion Dynamic and Social Clustering in a 2D Space: An Agent Based Experiment.

Computational economics·2026
Same journal

Competitive Pricing Using Model-Based Bandits.

Computational economics·2025
Same journal

Computational Performance of Deep Reinforcement Learning to Find Nash Equilibria.

Computational economics·2024
Same journal

On the Optimal Size and Composition of Customs Unions: An Evolutionary Approach.

Computational economics·2023
Same journal

Stocks Opening Price Gaps and Adjustments to New Information.

Computational economics·2023
Same journal

Nonparametric Test for Volatility in Clustered Multiple Time Series.

Computational economics·2023
See all related articles

This study presents a resilient control framework for optimal fiscal and monetary policy during economic crises. It highlights the importance of proactive policy responses and maintaining "rainy day" funds to mitigate disruptions.

Area of Science:

  • Economics
  • Macroeconomic Control Theory
  • Econometrics

Background:

  • The 2020 economic crisis, triggered by the coronavirus pandemic and government lockdowns, presented unprecedented challenges to macroeconomic stability.
  • Existing macroeconomic models often lack robust mechanisms for responding to large-scale, sudden external shocks.
  • Effective fiscal and monetary policy responses are crucial for mitigating economic downturns and ensuring recovery.

Purpose of the Study:

  • To develop a macroeconomic resilient control framework for optimal fiscal and monetary policy responses to major external incidents.
  • To simulate the framework's effectiveness using U.S. economic data from the 2020 crisis.
  • To introduce and evaluate a resilience feedback response in policy formulation.

Main Methods:

Keywords:
Linear-quadraticMinimaxResilience controlWavelet analysis

More Related Videos

Development of an Individual-Tree Basal Area Increment Model using a Linear Mixed-Effects Approach
04:35

Development of an Individual-Tree Basal Area Increment Model using a Linear Mixed-Effects Approach

Published on: July 3, 2020

3.4K
Experimental Investigation of the Hierarchical Control in DC Microgrids Using a Real-time Simulator
06:04

Experimental Investigation of the Hierarchical Control in DC Microgrids Using a Real-time Simulator

Published on: February 14, 2025

638

Related Experiment Videos

Last Updated: Sep 27, 2025

An R-Based Landscape Validation of a Competing Risk Model
05:37

An R-Based Landscape Validation of a Competing Risk Model

Published on: September 16, 2022

2.2K
Development of an Individual-Tree Basal Area Increment Model using a Linear Mixed-Effects Approach
04:35

Development of an Individual-Tree Basal Area Increment Model using a Linear Mixed-Effects Approach

Published on: July 3, 2020

3.4K
Experimental Investigation of the Hierarchical Control in DC Microgrids Using a Real-time Simulator
06:04

Experimental Investigation of the Hierarchical Control in DC Microgrids Using a Real-time Simulator

Published on: February 14, 2025

638
  • Development of a discrete-time, soft-constrained linear-quadratic dynamic game under a worst-case design with multiple disturbances.
  • Simulation of the U.S. economy under 2020 crisis conditions.
  • Comparison of policy responses with and without the proposed resilience feedback mechanism.

Main Results:

  • The framework provides optimal feedback fiscal and monetary policy rules for managing macroeconomic stability during crises.
  • Simulations demonstrate the effectiveness of the resilience feedback response in maintaining acceptable tracking errors for unemployment and national output.
  • The study quantifies the necessary policy adjustments for key macroeconomic variables.

Conclusions:

  • A proactive, resilient control framework is essential for effective macroeconomic management during severe external shocks.
  • Policymakers should implement resilience feedback responses to mitigate the impact of crises like the 2020 pandemic.
  • Maintaining adequate government "rainy day" funds is a key recommendation for enhancing national economic resilience.