Parametrical Regulation of Economic Growth based on the Turnovsky Monetary Model

Abdykappar A. Ashimov, Bahyt T. Sultanov, Zheksenbek M. Adilov, Yuriy V. Borovskiy, Dauren K. Suissinbayev, and Askar A. Ashimov


Optimal control, nonlinear systems, modelling and simulation, parametrical regulation


The work presents the application results of the parametrical regulation theory in the sphere of economic growth based on the Turnovsky monetary model. We present the results of the solution to the problem of parametrical identification of the considered model. The evaluation of a weak structural stability of the Turnovsky model in the compact domain of the phase space was obtained. Optimal (in sense of the criterion characterizing an economic growth) values of regulated parameters of the model and the dependence of a criterion’s optimal values on the two unregulated parameters were found.

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