Economic models for policy making : principles and designs revisited

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Title:

Author:

Cohen, S. I.

ISBN:

9780415509046

9780203097014

Personal Author:

Cohen, S. I.

Publication Information:

Abingdon, Oxon ; New York : Routledge, 2013.

Physical Description:

xxvii, 392 p. : ill. ; 24 cm.

Series:

Routledge frontiers of political economy ; 161

Routledge frontiers of political economy ; 161.

Contents:

Machine generated contents note: 1.Introduction -- 1.Focus on economic models for exploring policies -- 2.Outline: method and content -- 3.Economy-wide policy models -- 4.Partial models -- 5.Concluding remarks -- 2.Some essentials in economy-wide policy models -- 1.Introduction -- 2.CEM models: focus on market clearance via quantities -- 3.CGE models: focus on market clearance via prices -- 4.SAM models: relationship to the CEM and CGE models -- 5.Review table and concluding remarks -- 3.Socio-political regimes and economic development: exploratory models on agrarian reform in India and Chile -- 1.Introduction -- 2.Main features of the model -- 3.The modelling framework -- 4.Selected results from application to India -- 5.Application to Chile -- 6.Concluding remarks -- 4.Social economic development goals in economy-wide policy models: an application to Korea -- 1.Background -- 2.A unifying approach towards social economic development goals -- 3.Specification of the model --

Contents note continued: 4.Application -- 5.Analytical versus policy uses: breakdown of policy making -- 6.Concluding remarks -- 5.Growth and distribution in SAM models: various applications -- 1.Introduction -- 2.Tabulation and construction of the social accounting matrix -- 3.The SAM as an economy-wide model -- 4.Output and income SAM multipliers: results for ten countries -- 5.Decomposition of SAM multipliers into transfer, open-, and closed-loop effects -- 6.Identification of gainers and losers in SAM multipliers -- 7.Strategic choices for growth with redistribution -- 8.Discussion of scope and limitations -- 6.Simplified statics and dynamics in the CGE model: parameterisation and simulations for Indonesia -- 1.Background -- 2.The static CGE model -- 3.Parameterisation of the CGE model -- 4.Static policy simulations -- 5.The dynamic model -- 6.Dynamic policy simulations -- 7.Concluding remarks --

Contents note continued: 7.Growth with redistribution through liberalisation with restructuring: a CGE policy model of Nepal -- 1.Introduction -- 2.Key features -- 3.Model specification -- 4.Application and policy simulations -- 5.The dynamic model with a restructured economy -- 6.Concluding remarks -- 8.Sustained development of land resources: a policy model for Sudan -- 1.Introduction -- 2.The model -- 3.Estimation and baseline forecasts -- 4.Policy simulations: benefits and costs -- 5.Concluding remarks -- 9.Simulation results of SAM models for transiting economies: Russia falls and China rises -- 1.Comparative analysis of economic systems -- 2.Salient differences in economic performance: Russia and China -- 3.The SAMS of Russia and China -- 4.SAM multipliers in Russia and China -- 5.Gainers and losers in Russia and China -- 6.Summary and conclusions -- 10.Transiting from fixed-to flexible-price regimes: SAM-CGE models of Poland and Hungary -- 1.Introduction --

Contents note continued: 2.The fixed-price SAM model -- 3.The flexible-price CGE model -- 4.Results of applied policy simulations to Poland -- 5.Results of the simulations for Hungary -- 6.Concluding remarks -- 11.Public spending multipliers in extended SAM models for a developed economy -- 1.Introduction -- 2.Multiplier analysis in a first SAM for the Netherlands -- 3.Changes in SAM multiplier results over ten years -- 4.Extension: incorporation of regional subdivisions in the SAM model -- 5.Extension: urbanisation levels -- 6.Concluding remarks -- 12.Fiscal policy simulations in adapted CGE models: the Netherlands -- 1.Introduction -- 2.The basic model -- 3.The elaborate CGE model -- 4.Structuralist CGE model -- 5.Concluding remarks -- 13.Normed planning of human resource development: a roadmap model for Ethiopia -- 1.Background -- 2.The targeted select group of countries -- 3.Long-range targeting model for HRD -- 4.Roadmap results and transition paths to destinations --

Contents note continued: 5.Additional refinements -- 6.Matching of the labour market in the short and medium terms -- 7.The roadmap as part of a sustained development trajectory: anticipated economy-wide imbalances -- 8.Summary and conclusions -- 14.Labour market imbalances and adjustments: forecast model with RAS component -- 1.Background -- 2.Aggregate demand and supply at the sector level -- 3.Demand and supply by occupation and education: forecast model -- 4.Labour market adjustment: RAS iterations -- 5.Applications -- 6.Earnings imbalances: human capital versus job competition -- 7.Application -- 8.Concluding remarks -- 15.Privatisation decisions during transition: a CBA model applied to Poland -- 1.Introduction -- 2.Time horizon and notations used in the model -- 3.Transaction values for foreign buyer and seller government -- 4.Expected sales and profits -- 5.Costs: direct, associated, and replacement investment costs -- 6.Impact on government revenue --

Contents note continued: 7.Empirical results -- 8.Concluding remarks -- 16.Economic policy solutions to social queuing problems: a random sampling model -- 1.Background -- 2.Quality adjusted life years (QALY) -- 3.Linking QALY to earnings -- 4.The model -- 5.Quantification -- 6.Findings and discussion -- 7.Additional random sampling and policy simulations -- 8.Concluding remarks -- 17.Modelling convergence in economic growth between rich and poor countries -- 1.Introduction -- 2.The convergence hypothesis: supply-side theory and evidence -- 3.The convergence hypothesis: demand-side theory and evidence -- 4.Empirical results -- 5.Demonstration -- 6.More convergence through transfer mechanisms -- 18.Modelling of distinctly behaving economic systems: theory and applications -- 1.Introduction -- 2.Behavioural types and behavioural settings -- 3.Prototypes of dominant behaviours in economic systems -- 4.The start and the long-range development of economic systems --

Contents note continued: 5.Empirical validation -- 6.On the future outlook for economic systems -- 7.Concluding remarks.

Subject Term:

Economic policy.

Geographic Term:

Developing countries -- Economic policy.

Copies:

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Library	Material Type	Item Barcode	Shelf Number	Copy	Status
Searching... 1:IIEMSA	1:GEN-BOOK	33168025583911	330.01 C678E 2013	1	Searching... Unknown

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Summary

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.nbsp;Cohen onnbsp;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.