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http://hdl.handle.net/10071/14927
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Title: Finite state machine modelling of the macro-economy
Authors: Silva, J. M.
Pereira, J. A.
Keywords: Finite state machines
Macro economy
Modelling
Politics
Issue Date: 2017
Publisher: Engineering and Technology Publishing
Abstract: In this paper we model macro-economic policies with a Finite State Machine (FSM). The FSM is made of several states and transitions between states, in which a state is modelled by a set of conditions. The allowed transitions between states must be also be defined, in order to complete the model. In this paper we analyze how to use a FSM in order to model macroeconomic decision, where each state represents a set of economic decisions. Together with some pre-defined initial conditions, these adapted FSM models are analyzed in order for us to study what sequence of decisions yield the best results for pre-determined end-goals, based on the FSM’s possibilities. The final model shows what policies must be followed, and by what order, in order to maximize results, yielding some interesting conclusions.
Peer reviewed: yes
URI: http://hdl.handle.net/10071/14927
DOI: 10.18178/joams.5.5.333-337
ISSN: 2168-0787
Ciência-IUL: https://ciencia.iscte-iul.pt/id/ci-pub-44440
Appears in Collections:CTI-RI - Artigos em revistas científicas internacionais com arbitragem científica

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