A simple mathematical model for unemployment: a case study in Portugal with optimal control

Anibal Galindro, Delfim F. M. Torres

Abstract


We propose a simple mathematical model for unemployment. Despite its simpleness, we claim that the model is more realistic and useful than recent models available in the literature. A case study with real data from Portugal supports our claim. An optimal control problem is formulated and solved, which provides some non-trivial and interesting conclusions.

Keywords


Mathematical modelling; Unemployment;Unemployment in Portugal in the period 2004-2016;Numerical simulations; Optimal control with state constraints

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DOI: 10.19139/soic.v6i1.470

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