Mantel, Rolf R. with Juan C. Rego, Pedro Goyena, "Optimal Control Modeling with Vensim: Applications to Public Finance", 1994
ua435
The purpose of this paper is to improve the results obtained by Fernandez and Mantel (1989), referred to the price control inconvenience in the application of a stabilization plan for Argentina's hyperinflation in the Eighties. For the model's correct translation is checked by replications of the original experiments. Secondly, an intuitive policy suggested by the shape of the original experiments, that proposes a timely starting of the original price control policy is tested, achieving better results. Finally, an optimization process, currently available in Vensim programme, penalizes, on the one hand, the oscillations which are shown by the path that the instantaneous inflation follows to reach the equilibrium inflation rate; on the other hand, the slowness to reach that equilibrium point. Vensim's advise nearly matches previous intuituve timing for starting to control prices.
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