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How Econometric Models Help Policy Makers
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Book Synopsis How Econometric Models Help Policy Makers by : Henk Don
Download or read book How Econometric Models Help Policy Makers written by Henk Don and published by . This book was released on 2004 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Frisch and Tinbergen founded the standard framework for finding the optimal economic policy by maximizing the welfare function under constraints supplied by the econometric model. Frisch worried about the reliability of the model and Tinbergen thought that it would be too difficult to specify the welfare function. Looking at current practice in Dutch policy making, both worries are relevant but the solutions proposed by the founders are not very helpful. Rather, the solution is found in applying an iterative trial-and-error procedure interfacing between the policy maker and the model-cum-expert system. The main contributions of the standard framework are its useful set of concepts, the famous order condition for a feasible solution, and the clear definition of role models for the two parties in the interaction." -- Editor.
Book Synopsis Economic Models for Policy Making by : Solomon Cohen
Download or read book Economic Models for Policy Making written by Solomon Cohen and published by Routledge. This book was released on 2013-05-02 with total page 419 pages. Available in PDF, EPUB and Kindle. Book excerpt: Over the past decades, many different kinds of models have been developed that have been of use to policy makers, but until now the different approaches have not been brought together with a view to enhancing the systematic unification and evaluation of these models. This new volume aims to fill this gap by bringing together four decades’ worth of work by S. I. Cohen on economic modelling for policy making. Work on older models has been rewritten and brought fully up to date, and these older models have therefore been brought back to the fore, both to assess how they influenced more recent models and to see how they could be used today. The focus of the book is on models for development policies in developing economies, but there are some chapters that relate to economic policies in transition and developed economies. The policy areas covered are of typical interest in developing and transition economies. They include those relating to trade liberalization reforms, sustainable development, industrial development, agrarian reform, growth and distribution, human resource development and education, public goods and income transfers. Each chapter contains a brief assessment of the empirical literature on the economic effects of the policy measures discussed in the chapter. The book presents a platform of economic modelling that can serve as a refresher for practising professionals, as well as a reference companion for graduates engaging in economic modelling and policy preparations.
Book Synopsis Development Policies and Policy Processes in Africa by : Christian Henning
Download or read book Development Policies and Policy Processes in Africa written by Christian Henning and published by Springer. This book was released on 2017-10-05 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is open access under a CC BY 4.0 license. The book examines the methodological challenges in analyzing the effectiveness of development policies. It presents a selection of tools and methodologies that can help tackle the complexities of which policies work best and why, and how they can be implemented effectively given the political and economic framework conditions of a country. The contributions in this book offer a continuation of the ongoing evidence-based debate on the role of agriculture and participatory policy processes in reducing poverty. They develop and apply quantitative political economy approaches by integrating quantitative models of political decision-making into existing economic modeling tools, allowing a more comprehensive growth-poverty analysis. The book addresses not only scholars who use quantitative policy modeling and evaluation techniques in their empirical or theoretical research, but also technical experts, including policy makers and analysts from stakeholder organizations, involved in formulating and implementing policies to reduce poverty and to increase economic and social well-being in African countries.
Book Synopsis Empirical Models and Policy Making by : Mary Morgan
Download or read book Empirical Models and Policy Making written by Mary Morgan and published by Routledge. This book was released on 2003-09-02 with total page 337 pages. Available in PDF, EPUB and Kindle. Book excerpt: This collection, written by highly-placed practitioners and academic economists, provides a picture of how economic modellers and policy makers interact. The book provides international case studies of particular interactions between models and policy making, and argues that the flow of information is two-way.
Book Synopsis Regional Economic Modeling: A Systematic Approach to Economic Forecasting and Policy Analysis by : G.I. Treyz
Download or read book Regional Economic Modeling: A Systematic Approach to Economic Forecasting and Policy Analysis written by G.I. Treyz and published by Springer Science & Business Media. This book was released on 2013-11-11 with total page 522 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regional economic models are the key to predicting the effects of transportation, economic development, energy, fiscal and environmental policies. Despite this, the principal regional economic policy analysis model used throughout the United States by government agencies, universities, and the private sector has not been presented in a book until now. The approach to building, understanding and using regional models presented in Regional Economic Models: A Systematic Approach to Forecasting and Policy Analysis is progressive. It begins with the simplest possible models and concludes with a full presentation of the leading model used by policy makers today. The full details are presented along with facilitating software, which is made available so that the reader can build a prototype model for any state or country and can perform policy simulations with full operational models for a sample area. Policy studies are discussed that have been carried out with the model, as well as the range of ways in which policies can be tested through policy simulations. The necessary background is developed for understanding the ways in which models can be used to improve the basis upon which policies are evaluated, as well as the sensitivity of the predicted effects to the model chosen for the analysis. The presentation is multifaceted and includes equations, diagrams and numerical examples. The professional literature is integrated with introductory materials to produce the first comprehensive book on regional modeling that extends from economic base models to modeling advances that are currently being published in economic journals.
Book Synopsis Introduction to the Use of Econometric Models in Economic Policy Making by : Preston Miller
Download or read book Introduction to the Use of Econometric Models in Economic Policy Making written by Preston Miller and published by . This book was released on 1974 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Econometric Analysis of Regional Systems by : Norman J. Glickman
Download or read book Econometric Analysis of Regional Systems written by Norman J. Glickman and published by Academic Press. This book was released on 2014-05-10 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Econometric Analysis of Regional Systems: Explorations in Model Building and Policy Analysis provides information pertinent to the use of regional econometric models for forecasting and policy analysis. This book presents macroeconomic forecasting for metropolitan regions. Organized into five chapters, this book begins with an overview of the problem of forecasting regional economic activity. This text then analyzes the principal types, economic base, input–output, and econometric of the regional economic models. Other chapters consider a large-scale econometric model for the Philadelphia region based on time series data to make forecasts for output, employment, prices, wages, income, economic activity, and other economic aggregates. This book discusses as well the types of forecasting models used in regional analysis. The final chapter deals with econometric techniques to bear on the problem of regional economic forecasting. This book is a valuable resource for economists, local policy makers, and government officials.
Book Synopsis Evaluation of Econometric Models by : Jan Kmenta
Download or read book Evaluation of Econometric Models written by Jan Kmenta and published by Academic Press. This book was released on 2014-05-10 with total page 425 pages. Available in PDF, EPUB and Kindle. Book excerpt: Evaluation of Econometric Models presents approaches to assessing and enhancing the progress of applied economic research. This book discusses the problems and issues in evaluating econometric models, use of exploratory methods in economic analysis, and model construction and evaluation when theoretical knowledge is scarce. The data analysis by partial least squares, prediction analysis of economic models, and aggregation and disaggregation of nonlinear equations are also elaborated. This text likewise covers the comparison of econometric models by optimal control techniques, role of time series analysis in econometric model evaluation, and hypothesis testing in spectral regression. Other topics include the relevance of laboratory experiments to testing resource allocation theory and token economy and animal models for the experimental analysis of economic behavior. This publication is intended for students and researchers interested in evaluating econometric models.
Book Synopsis Optimal Control for Econometric Models by : S. Holly
Download or read book Optimal Control for Econometric Models written by S. Holly and published by Springer. This book was released on 1979-06-13 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author :David Andrew Kendrick Publisher :Springer Science & Business Media ISBN 13 :9780792305286 Total Pages :188 pages Book Rating :4.3/5 (52 download)
Book Synopsis Models for Analyzing Comparative Advantage by : David Andrew Kendrick
Download or read book Models for Analyzing Comparative Advantage written by David Andrew Kendrick and published by Springer Science & Business Media. This book was released on 1989-11-30 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent economic history suggests that a key element in economic growth and development for many countries has been an aggressive export policy and a complementary import policy. Such policies can be very effective provided that resources are used wisely to encourage exports from industries that can be com petitive in the international arena. Also, import protection must be used carefully so that it encourages infant industries instead of providing rents to industries that are not competitive. Policy makers may use a variety of methods of analysis in planning trade policy. As computing power has grown in recent years increasing attention has been give to economic models as one of the most powerful aids to policy making. These models can be used on the one hand to help in selecting export industries to encourage and infant industries to protect and on the other hand to chart the larger effects ofttade policy on the entire economy. While many models have been developed in recent years there has not been any analysis of the strengths and weaknesses of the various types of models. Therefore, this monograph provides a review and analysis of the models which can be used to analyze dynamic comparative advantage.
Book Synopsis Global Economic Modeling: A Volume In Honor Of Lawrence R Klein by : Peter Pauly
Download or read book Global Economic Modeling: A Volume In Honor Of Lawrence R Klein written by Peter Pauly and published by World Scientific. This book was released on 2018-04-25 with total page 345 pages. Available in PDF, EPUB and Kindle. Book excerpt: Global econometric models have a long history. From the early 1970s to the present, as modeling techniques have advanced, different modeling paradigms have emerged and been used to support national and international policy making. One purpose of this volume — based on a conference in recognition of the seminal impact of Nobel Prize winner in Economic Sciences Lawrence R Klein, whose pioneering work has spawned the field of international econometric modeling — is to survey these developments from today's perspective.A second objective of the volume is to shed light on the wide range of attempts to broaden the scope of modeling on an international scale. Beyond new developments in traditional areas of the trade and financial flows, the volume reviews new approaches to the modeling of linkages between macroeconomic activity and individual economic units, new research on the analysis of trends in income distribution and economic wellbeing on a global scale, and innovative ideas about modeling the interactions between economic development and the environment.With the expansion of elaborated economic linkages, this volume makes an important contribution to the evolving literature of global econometric models.
Book Synopsis Developments of Control Theory for Economic Analysis by : Carlo Carraro
Download or read book Developments of Control Theory for Economic Analysis written by Carlo Carraro and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 355 pages. Available in PDF, EPUB and Kindle. Book excerpt: Giovanni Castellani Rector of the University of Venice This book contains the Proceedings of the Conference on "Economic Policy and Control Theory" which was held at the University of Venice (Italy) on 27 January-l February 1985. The goal of the Conference was to survey the main developments of control theory in economics, by emphasizing particularly new achievements in the analysis of dynamic economic models by con trol methods. The development of control theory is strictly related to the development of science and technology in the last forty years. Control theory was indeed applied mainly in engineering, and only in the sixties economists started using control methods for analys ing economic problems, even if some preliminary economic applica tions of calculus of variations, from which control theory was then developed, date back to the twenties. Applications of control theory in economics also had to solve new, complicated, problems, like those encountered in optimal growth models, or like the determination of the appropriate inter temporal social welfare function, of the policy horizon and the relative final state of the system, of the appropriate discount factor. Furthermore, the uncertainty characterizing economic models had to be taken into account, thus giving rise to the development of stochastic control theory in economics.
Book Synopsis Economic Modeling, Analysis, and Policy for Sustainability by : Goswami, Anandajit
Download or read book Economic Modeling, Analysis, and Policy for Sustainability written by Goswami, Anandajit and published by IGI Global. This book was released on 2016-04-19 with total page 407 pages. Available in PDF, EPUB and Kindle. Book excerpt: As the global economy continues to grow and change, issues concerning sustainability practices have become more prevalent. The implementation of efficient sustainability procedures offers significant assistance in the development of modern economies. Economic Modeling, Analysis, and Policy for Sustainability focuses on interdisciplinary perspectives concerning the social, environmental, and economic spheres of sustainability science. Emphasizing economic models, as well as mitigation policies and practices from various regions of the world, this book is a pivotal reference source for researchers, policy makers, government officials, and corporate leaders.
Author :Abdykappar A. Ashimov Publisher :Springer Science & Business Media ISBN 13 :146141153X Total Pages :276 pages Book Rating :4.4/5 (614 download)
Book Synopsis Macroeconomic Analysis and Economic Policy Based on Parametric Control by : Abdykappar A. Ashimov
Download or read book Macroeconomic Analysis and Economic Policy Based on Parametric Control written by Abdykappar A. Ashimov and published by Springer Science & Business Media. This book was released on 2011-11-25 with total page 276 pages. Available in PDF, EPUB and Kindle. Book excerpt: After the transition to free economy, governments of the former Soviet republics realized that in spite of becoming a part of the shaky international economic order, their individual economic success can be assured by rational national economic policies that in addition to the fundamental law of supply and demand govern the economic mechanism sensitive to both external and internal phenomena. Originally published in Russian and now translated in English, this book by Dr. A. Ashimov and his colleagues offers a novel theory providing a numerically-justifiable approach to the solution of major economy control problems that are faced by virtually every government in the world. First, they developed and validated numerous mathematical models describing complex interactions between economic and social factors thus enabling the decision makers to foresee the outcomes of their decisions. Second, on the basis of these models the authors formulated the appropriate control problems that could be interpreted as achieving the transition to the desirable economic regimes and maintaining these regimes in spite of initial conditions and both external and internal perturbations. It should be noted that due to the inherent uncertainty introduced by the use of statistical models, the nonlinearity of the underlying phenomena and the intention to obtain the optimal solutions, the solution process becomes quite intricate and calls for the application of the most sophisticated techniques offered in advanced control theory. The authors utilized the most instrumental statistical model validation techniques; they established sufficient conditions for the existence of optimal solutions of the relevant control problems; and they skillfully combined the applications of the phase space formalism, system stability analysis, and the methods of functional analysis. Finally, they developed algorithms resulting in the optimal problem solutions, thus offering economic policy makers a dependable decision support tool. Macroeconomic Analysis and Economic Policy Based on Parametric Control offers a novel, highly mathematical approach to the solution of very realistic economy control problems. It presents a good example of the application of mathematical modeling, advanced control theory, and model-based decision making that could be adopted by researchers and graduate students specializing in economics, control, and relevant areas of research, addressing their own research problems.
Book Synopsis Quantitative Economic Policies and Interactive Planning by : Andrew J. Hughes Hallett
Download or read book Quantitative Economic Policies and Interactive Planning written by Andrew J. Hughes Hallett and published by CUP Archive. This book was released on 1983-01-20 with total page 396 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis The Politics of Economic Modelling by : Per Kongshøj Madsen
Download or read book The Politics of Economic Modelling written by Per Kongshøj Madsen and published by . This book was released on 1991 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Economic Modeling in the Post Great Recession Era by : John E. Silvia
Download or read book Economic Modeling in the Post Great Recession Era written by John E. Silvia and published by John Wiley & Sons. This book was released on 2016-12-14 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: Reality-based modeling for today's unique economic recovery Economic Modeling in the Post Great Recession Era presents a more realistic approach to modeling, using direct statistical applications to address the characteristics and trends central to current market behaviors. This book's unique focus on the reality of today's markets makes it an invaluable resource for students and practitioners seeking a comprehensive guide to more accurate forecasting. While most books treat the economy as if it were in a vacuum, building models around idealized or perception-biased behaviors, this book deals with the economy as it currently stands—in a state of recovery, limited by financial constraints, imperfect information, and lags and disparities in price movements. The authors identify how these characteristics impact various markets' behaviors, and quantify those behaviors using SAS as the primary statistical tool. Today's economy bears a number of unique attributes that usual modeling methods fail to consider. This book describes how to approach modeling based on real-world, observable data in order to make better-informed decisions in today's markets. Discover the three economic characteristics with the greatest impact on various markets Create economic models that mirror the current post-recession reality Adopt statistical methods that identify and adapt to structural breaks and lags Factor real-world imperfections into modeling for more accurate forecasting The past few years have shown a clear demarcation between policymakers' forecasts and actual outcomes. As the dust settles on the Great Recession, after-effects linger—and impact our current recovery in ways that diverge from past experience and theoretical expectations. Economic Modeling in the Post Great Recession Era provides comprehensive guidance grounded in reality for today's economic decision-makers.
