Model Reference Control for an Economic Growth Cycle Model

Abstract EN

A useful method in intelligent engineering, called model referencecontrol (MRC), is applied in an economic control problem.

The authors review themain framework of MRC and Goodwin growth cycle (GGC) model between twocountries and drive the employment rate to be approximate stable in a high levelby controlling the workers' share in the national income automatically.

It is veryhelpful to constitute economic policies for a country or an economic union.