Using Model Predictive Control to model the Role of the Goverment in the US Economy

Using Model Predictive Control to model the Role of the Goverment in the US Economy

Douma, Gijs (TU Delft Mechanical, Maritime and Materials Engineering)
Lim, Tom (TU Delft Mechanical, Maritime and Materials Engineering)
van Rijen, Gijs (TU Delft Mechanical, Maritime and Materials Engineering)
Vorage, Christian (TU Delft Mechanical, Maritime and Materials Engineering)
van Wering, Nino (TU Delft Mechanical, Maritime and Materials Engineering)

Hutters, C. (mentor)

Delft University of Technology

Mechanical Engineering

2021-01-15

This research paper describes the design and implementation of a Model Predictive Controller, using economic engineering principles, on a model of the US economy. The purpose of the Model Predictive Controller is to mimic the US
government policy by maximizing the Net Domestic Product. The Model Predictive Controller is integrated with a bond graph model which is modeled based on macroeconomic principles and used to simulate the US economy. In all cases, the Model Predictive Controller was able to successfully stabilize the US economy, while maximizing the Net Domestic Product e.g. the economic output of the economy. The model described in this paper provides a promising new way of generating more accurate prospects of future market movements.

Macroeconomics
Economic Engineering
Model Predictive Control

http://resolver.tudelft.nl/uuid:12b5c76c-e605-4968-bf22-faaecc16933e

Student theses

bachelor thesis

© 2021 Gijs Douma, Tom Lim, Gijs van Rijen, Christian Vorage, Nino van Wering