Economic Models for Policy Making

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 e

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 e

This book presents a coherent framework for assessing economic policy making in developing countries, with special reference to those in Africa. The chapters focus on policy making issues in three cri

This book analyzes economic development policy governance in northern Ontario over the past thirty years, with the goal of making practical policy recommendations for present and future government eng

This book analyzes economic development policy governance in northern Ontario over the past thirty years, with the goal of making practical policy recommendations for present and future government eng

Global policy making is taking shape in a wide range of public sector activities managed by transnational policy communities. Public policy scholars have long recognised the impact of globalisation on the industrialised knowledge economies of OECD states, as well as on social and economic policy challenges faced by developing and transition states. But the focus has been on domestic politics and policy. Today, policy studies literature is building new concepts of 'transnational public-private partnership', 'trans-governmentalism' and 'science diplomacy' to account for rapid growth of global policy networks and informal international organisations delivering public goods and services. This Element goes beyond traditional texts which focus on public policy as an activity of states to outline how global policy making has driven many global and regional transformations over the past quarter-century. This title is also available as Open Access on Cambridge Core.

This book explores the key ideas and the key people who were responsible for the development of China’s economy from 1949 to the present. It discusses how economic policy evolved, how economic policy

Europe’s Energy Transition: Insights for Policy Making looks at the availability and cost of accessing energy and how it significantly affects economic growth and competitiveness in global markets.

To what extent do Islamic values have implications for economic policy making?Islamist political parties have enjoyed unprecedented election victories in recent times. The Islamic Revolution in Iran,

To what extent do Islamic values have implications for economic policy making?Islamist political parties have enjoyed unprecedented election victories in recent times. The Islamic Revolution in Iran,

Developing and ‘transition’ economies face myriad challenges in their attempts to achieve and maintain political stability and foster the economic growth essential for national security, the social we

This 1973 posthumous publication of Rudolf Bićanić's last work on the Yugoslav economy is a fitting tribute to a great Yugoslav of the pre-war era, who survived the revolution and made a notable contribution to the new Yugoslavia. Bićanić was a man of broad learning, equally at home as a geographer, an economist and a political scientist, who was also a man of affairs. His book provides a lucid survey of the economic development of Yugoslavia from 1918 to the 1970s. Bićanić discusses the three planning models used in post-war Yugoslavia - the centralized (1947–1951), the decentralized (1952–1964) and the polycentric (1965–1970) - and discusses the implications of these models in the context of Yugoslavia's industrialization. The book is not only essential reading for anyone wishing to understand Yugoslavia's economic background, but it also raises questions of general interest concerning the application of socialist principles to the industrialization of developing societies.

This book examines the events, policies, and personalities that have shaped our economy for a half century.

Commodity markets are of considerable interest and importance to economists, econometricians and dealers. This book reports the proceedings of an international conference on 'Primary Commodity Prices: Economic Models and Policy', held in London under the auspices of the Centre for Economic Policy Research in March 1989. A range of papers by leading international authorities covers topics such as expectations formation in econometric commodity market models; price determination in the market for aluminium; the estimation of dynamic disequilibrium models with rational expectations; and a comparison of forward markets and buffer stocks as commodity earnings stabilizers. A key feature of this stock is its development of the policy implications of theoretical and empirical work in the field of commodity economics. Most papers are accompanied by discussant's comments to draw out their technical and policy implications. The book's readership will include commodity economists, commodity market

Government interventions in market failures can encounter objections from those who doubt their efficacy. Acocella, a leading expert on economic policy, counters these unfounded criticisms, making the convincing case for the foundation, coordination and reach of government action through economic policy. Arguing for the governmental potential to devise democratic, fair and effective institutions and policies, this book also demonstrates the validity of the principles outlined by Frisch and Tinbergen, amongst others, for controlling the economy, in a strategic context, equivalent to the rational expectations assumption. Demonstrating how unconventional monetary policies (such as macro-prudential regulation, new fiscal rules, and new forms of international policy coordination) can offer an effective response to the multiplicity of current economic issues, the recent financial crisis arguably indicates that economic policy must once again take centre stage as the applied complement to mai

Government interventions in market failures can encounter objections from those who doubt their efficacy. Acocella, a leading expert on economic policy, counters these unfounded criticisms, making the convincing case for the foundation, coordination and reach of government action through economic policy. Arguing for the governmental potential to devise democratic, fair and effective institutions and policies, this book also demonstrates the validity of the principles outlined by Frisch and Tinbergen, amongst others, for controlling the economy, in a strategic context, equivalent to the rational expectations assumption. Demonstrating how unconventional monetary policies (such as macro-prudential regulation, new fiscal rules, and new forms of international policy coordination) can offer an effective response to the multiplicity of current economic issues, the recent financial crisis arguably indicates that economic policy must once again take centre stage as the applied complement to mai

In developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games, and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence, uniqueness, and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy questions.

With 1.2 billion people, today's youth population aged 15-24 represents the largest cohort ever to enter the transition to adulthood. Close to 90% of these young people live in developing countries, a

This stock-taking report showcases OECD's added value in the field of climate change policy; enhance transparency; hold OECD members accountable for their action on climate to date; and encourage gove

It is often said that voters hold presidents responsible for two things: the economy and foreign policy. Economic performance is generally beyond presidential control, but foreign policy is defined by

Focusing on deterministic models in discrete time, this concise yet rigorous textbook provides a clear and systematic introduction to the theory and application of dynamic economic models. It guides students through the most popular model structures and solution concepts, from the simplest dynamic economic models through to complex problems of optimal policy design in dynamic general equilibrium frameworks. Chapters feature theorems and practical hints, and seventy-five worked examples highlight the various methods and results that can be applied in dynamic economic models. Notation and formulation is uniform throughout, so students can easily discern the similarities and differences between various model classes. Chapters include more than sixty exercises for students to self-test their analytical skills, and password-protected solutions are available for instructors on the companion website. Assuming no prior knowledge of dynamic economic analysis or dynamic optimization, this textbo

For India’s economic reforms policy to succeed, its programmes should be firmly anchored in the reality of the social and micro-institutional context—something our policy makers often regrettably igno

This new textbook will provide students of criminology with a better understanding of criminal justice policy and, in doing so, offers a framework for analysing the social, economic and political proc

This new textbook addresses the needs of the student of criminology for a better understanding of criminal justice policy and offers a framework for analysing the social, economic and political proces

In developing a new and highly innovative theory of economic policy, this book deals with conflicts between strategic actions by public and private agents. It builds on the Lucas critique but also applies the tools introduced by Tinbergen and Theil to dynamic policy games, and from there derives a new theory of economic policy. Its main propositions describe such properties in the models currently used for policy-making as neutrality and equilibrium existence, uniqueness, and multiplicity. These properties are key to understanding the impact of concepts such as rational expectations, time inconsistency, communication and the use of policy announcements. As the numerous examples show, they are useful both for model building and for devising optimal institutions. The Theory of Economic Policy in a Strategic Context is an essential but accessible tool for economic researchers involved in policy questions.

A comprehensive analysis of the macroeconomic and financial forces altering the economic landscapeFinancial decision-making requires one to anticipate how their decision will not only affect their bus

This book is devoted to the analysis of the Organization for Economic Co-operation and Development (OECD) and its role in international and national policy making. On its 50th anniversary, the OECD en

Most of the world's population and the vast majority of the world's poor live and work in villages. Their activities are usually centred in households, but interactions among households shape the impacts of policy, market and environmental changes on rural production, incomes, employment and migration. This book presents a generation of villagewide economic modelling designed to capture these interactions when assessing the impacts of policy, market and environmental changes on rural economies in less developed countries. The authors present a general framework for modelling village economies based on computable general-equilibrium techniques, estimate models for villages and a village-town in five different countries, and use these models to conduct a series of comparative experiments. The findings offer explanations for some paradoxical outcomes of exogenous shocks as their influence winds its way through rural economies, and they underline the importance of adopting a local economy-

Household Dynamics: Economic Growth and Policy uniquely integrates dynamic decision making by households, the collective implications of those decisions for economic growth and inequality, and their c

Most of the world's population and the vast majority of the world's poor live and work in villages. Their activities are usually centred in households, but interactions among households shape the impacts of policy, market and environmental changes on rural production, incomes, employment and migration. This book presents a generation of villagewide economic modelling designed to capture these interactions when assessing the impacts of policy, market and environmental changes on rural economies in less developed countries. The authors present a general framework for modelling village economies based on computable general-equilibrium techniques, estimate models for villages and a village-town in five different countries, and use these models to conduct a series of comparative experiments. The findings offer explanations for some paradoxical outcomes of exogenous shocks as their influence winds its way through rural economies, and they underline the importance of adopting a local economy-

Presidential Decision Making describes two organizational challenges the President faces - the interrelatedness of the issues he is expected to address and the fragmented structure of the executive departments and offices he presides over. The dynamics and problems of the Presidency are illuminated in this inside account of decision making in the White House. Newly elected presidents invariably proclaim their commitment to an enlarged role for cabinet, department, and agency heads but often abandon the effort after a few months in office. The Economic Policy Board, a cabinet-level body established shortly after Gerald Ford became President, was one of the most systematic and sustained attempts to organize advice for the President in recent decades. This book examines in detail the Board's deliberations over three controversial policy issues: the 1975 State of the Union tax proposals, the U.S.-U.S.S.R. Grain Agreement, and the 1976 footwear import decision. In evaluating these decisions

Presidential Decision Making describes two organizational challenges the President faces - the interrelatedness of the issues he is expected to address and the fragmented structure of the executive departments and offices he presides over. The dynamics and problems of the Presidency are illuminated in this inside account of decision making in the White House. Newly elected presidents invariably proclaim their commitment to an enlarged role for cabinet, department, and agency heads but often abandon the effort after a few months in office. The Economic Policy Board, a cabinet-level body established shortly after Gerald Ford became President, was one of the most systematic and sustained attempts to organize advice for the President in recent decades. This book examines in detail the Board's deliberations over three controversial policy issues: the 1975 State of the Union tax proposals, the U.S.-U.S.S.R. Grain Agreement, and the 1976 footwear import decision. In evaluating these decisions

This foreign policy analysis textbook is written especially for students studying to become national security professionals. It translates academic knowledge about the complex influences on American foreign policymaking into an intuitive, cohesive, and practical set of analytic tools. The focus here is not theory for the sake of theory, but rather to translate theory into practice. Classic paradigms are adapted to fit the changing realities of the contemporary national security environment. For example, the growing centrality of the White House is seen in the 'palace politics' of the president's inner circle, and the growth of the national security apparatus introduces new dimensions to organizational processes and subordinate levels of bureaucratic politics. Real-world case studies are used throughout to allow students to apply theory. These comprise recent events that draw impartially across partisan lines and encompass a variety of diplomatic, military, and economic and trade issues

This foreign policy analysis textbook is written especially for students studying to become national security professionals. It translates academic knowledge about the complex influences on American foreign policymaking into an intuitive, cohesive, and practical set of analytic tools. The focus here is not theory for the sake of theory, but rather to translate theory into practice. Classic paradigms are adapted to fit the changing realities of the contemporary national security environment. For example, the growing centrality of the White House is seen in the 'palace politics' of the president's inner circle, and the growth of the national security apparatus introduces new dimensions to organizational processes and subordinate levels of bureaucratic politics. Real-world case studies are used throughout to allow students to apply theory. These comprise recent events that draw impartially across partisan lines and encompass a variety of diplomatic, military, and economic and trade issues

China stands as a major “Red Swan” challenge to the social sciences. The resilience of the Communist party-state, in combination with a rapidly expanding and internationally competitive economy, challenges conventional models of economic development and political change. This book focuses on crucial governmental action programs and examines the manner in which they were developed, formulated, implemented, adjusted, and revised. It finds that Chinese policy making has been driven by a distinctive political methodology—an unusual combination of long-term national agendas with versatile local policy experimentation—that serves as an effective mechanism for policy innovation and correction, and thus provides strong adaptive capabilities in a perpetually shifting economic, technological and international context. ~~~~~~~~~~~~~~~ An original and persuasive book by one of the leading scholars of China’s policy-making process. The paradox of China’s successful market reforms is that they wer