Model: degree of controllability

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Model: degree of controllability

Postby tvonbrasch » Fri Oct 26, 2018 4:41 am

In EViews there is a function called CONTROL that allows the user to solve for a control variable so that the target series matches a trajectory. This function only allows for one control variable, but the addin MCONTROL (viewtopic.php?f=23&t=3286&p=54005&hilit=mcontrol#p54005) allows for multiple control variables.

In Eviews, there is currently no functionality describing the degree of controllability of a model. For example, one may be able to control the level of production using the interest rate as a control variable. However, the domestic interest rate (in a small open economy) may not be able to control the oil price. As it is now, there is not any functionality in EViews that illustrates the degree of controllability within a model object. In the control theory literature, the degree of controllability relates to the controllability gramian. It would be great if you could visualise (somehow), within the model object, the degree of controllability of a model. Hopefully this video will inspire you to implement this functionality:

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