The past, present and future of policy modeling

This book attempts to present different policy modeling analytical tools for academics and policymakers. This book is divided into twelve chapters with different topics and methodologies can help in the evaluation of different socio-economic problems. The main objective of this book is to offer simple analytical tools can be applied anytime and anywhere. Finally, the same book shows a few applications and cases that can help to understand complex and dynamic socio-economic problems respectively.

This research paper evaluates the past, present, and future of economic modeling from both qualitative and quantitive perspectives. We do this through an extensive review of papers published in the Journal of Economic Modeling (JEM) between 1979 and 2017. We find that at different time periods, the economic modeling research literature focused on different aspects. These include a wide range of research topics, research approaches, techniques, theories, methods, and analytical tools applied in the study of national and international issues. All of these dimensions are relevant for the rigorous analysis of complex and dynamic economic phenomena.

This basic manual about policy modeling is built by a large collection of different papers were published in different journals such as the Journal of Policy Modeling (JPM), Contemporary Economics (CE), and other Journals in the last ten years. The main objective of this basic manual about policy modeling is to make a single document to understand better policy modeling in an easy way for academics, students, and policymakers. Basically, this basic manual has twelve chapters that can help to understand easily policy modeling.

This article examines the origins and evolution of policy modeling from a theoretical and technical perspective. This is done through an extensive review and analysis of publications of the journal of policy modeling within a 33-year period (1979–2012). It was observed that at different period in time, economic policy research focused on different national and international issues that invoked different economic practical approaches to facilitate the explanation of the complex and dynamic socio-economic and political phenomena.

This paper introduces a definition, a way of classifying and a method of evaluating policy modeling. An analytical tool called "Policy Modeling Consistency (PMC-Index)" has been developed for the purposes of evaluating policy modeling. The PMC-Index enables policy-makers and researchers to identify the level of consistency as well as the strengths and weaknesses within any policy modeling. The implementation of the PMC-Index involves the following four basic steps: (i) the use of multi-input-output table; (ii) classification of variables and identification of parameters; (iii) measurement of the PMC-Index; (iv) construction of the PMC-Surface. Through the PMC-Index, this paper promotes multidisciplinary approach to policy modeling. It suggests that various possible effects of any economic policy can be shown using a multi-dimensional graphical means.

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 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 liberalisation 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.

When advising policy we face the fundamental problem that economic processes are uncertain. Consequently, policy can err. In this paper we show how the use of simulation models can reduce policy errors by inferring empirically reliable and meaningful statements about economic processes. We suggest that policy is best based on so-called abductive simulation models, which help to better understand how policy measures can influence economic processes. We show that abductive simulation models use a combination of theoretical and empirical analysis based on different data sets. By way of example we show what policy can learn with the help of abductive simulation models, namely how policy measures can influence the emergence of a regional cluster.

2017

No portion of this document may be reproduced or utilized without the proper attribution to KAPSARC. Policy Utilities Expected results Domain specific utility model Economic views Value models Collective decision-making process Figure 1. Integration framework.

Economic Modelling, 2022

The authors convey their deepest appreciation to the editor, associate editor, and copyeditor for the generous effort and time that they have kindly invested to provide highly constructive feedback and thoughtful suggestions for improvement. Released under the terms of a CC BY NC ND License

Bulletin of Taras Shevchenko National University of Kyiv. Economics

This is the third in a trilogy of papers concerning the reform of Economics. This paper tackles the subject of Economic modelling, If modelling is a representation of reality then the concept of “wha t is real” must be discussed. A description of the purpose of modelling and the processes involved in creating models then follows. The debate then switches to Economic modelling, its purpose and its effectiveness. Traditional Economic modelling is still a useful tool for understanding and teaching but Data Analytics and intelligent algorithms are better for economic predictions.