A system according to the principles of the present disclosure includes a target turbocharger position module and a turbocharger control module. The target turbocharger position module determines a target position of a turbocharger based on a relationship between power generated by a compressor of the turbocharger, inertia of a shaft in a turbine of the turbocharger, and power generated by the turbine. The target turbocharger position includes at least one of a target vane position and a target wastegate position. The turbocharger control module controls the turbocharger based on the target turbocharger position.