Economic Models for Policy Making
Principles and Designs Revisited
Routledge – 2012 – 396 pages
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.
1. Introduction 2. Some Essentials in Economy Wide Policy Models 3. Socio-political Regimes and Economic Development: Exploratory models on agrarian reform in India and Chile 4. Social Economic Development Goals in Economy Wide Policy Models: An application to Korea 5. Growth and Distribution in SAM Models: Various applications 6. Simplified Statics and Dynamics in the CGE Model: Parameterization and simulations for Indonesia 7. Growth with Redistribution through Liberalization with Restructuring: A CGE policy model of Nepal 8. Sustained Development of Land Resources: A policy model of Nepal 8. Sustained Development of Land Resources: A policy model for Sudan 9. Russia Fall China Rise: Simulation results of SAM models for transiting economies 10. Transiting from Fixed to Flexible Price Regimes: SAM-CGE models of Poland and Hungary 11. Public Spending Multipliers in Extended SAM Models for a Developed Economy 12. Fiscal Policy Simulations in Adapted CGE Models: The Netherlands 13. Normed Planning of Human Resource Development: A roadmap model for Ethiopia 14. Labour Market Imbalances and Adjustments: Forecast model with RAS component 15. Privatization Decisions during Transition: A CBA model applied to Poland 16. Economic Policy Solutions to Social Queuing Problems: A random sampling model 17. Modelling Convergence in Economic Growth between Rich and Poor Countries 18. Modelling of Distinctly Behaving Economic Systems: Theory and applications
S. I. Cohen is Emeritus Professor of Economics at the Erasmus University Rotterdam, The Netherlands. He founded the Foundation for Economic Research Rotterdam and is a regular advisor to UN, WB, and EU agencies on development issues and in field missions.