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Policy modeling: Definition, classification and evaluation

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  • Ruiz Estrada, Mario Arturo

Abstract

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.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Policy Modeling.

Volume (Year): 33 (2011)
Issue (Month): 4 (July)
Pages: 523-536

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Handle: RePEc:eee:jpolmo:v:33:y:2011:i:4:p:523-536

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Web page: http://www.elsevier.com/locate/inca/505735

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Keywords: Econographicology Policy modeling Economics teaching Multi-dimensional graphs and multi-dimensional geometry;

References

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  1. Estrada, Mario Arturo Ruiz & Yap, Su Fei, 2006. "The Openness Growth Monitoring Model (OGM-Model)," Journal of Policy Modeling, Elsevier, vol. 28(3), pages 235-246, April.
  2. Ruiz Estrada, Mario Arturo & Park, Donghyun, 2008. "Korean unification: How painful and how costly," Journal of Policy Modeling, Elsevier, vol. 30(1), pages 87-100.
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Citations

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Cited by:
  1. Ruiz Estrada, Mario Arturo, 2013. "The Macroeconomics evaluation of Climate Change Model (MECC-Model): The case Study of China," MPRA Paper 50021, University Library of Munich, Germany, revised 20 Sep 2013.
  2. Ruiz Estrada, Mario Arturo, 2013. "How Crime can Affect Economic Performance through the Application of an ECM-Model: the Case of Guatemala," MPRA Paper 44445, University Library of Munich, Germany, revised 18 Feb 2013.
  3. Ruiz Estrada, M.A., 2013. "How Crime can Affect Economic Performance through the Application of an ECM-Model: the Case of Guatemala," MPRA Paper 44367, University Library of Munich, Germany, revised 14 Feb 2013.
  4. Ruiz Estrada, Mario Arturo, 2013. "The Application of the Minimum Food Security Quota (MFS-Quota): Malaysia," MPRA Paper 49970, University Library of Munich, Germany, revised 19 Sep 2013.
  5. Ruiz Estrada, Mario Arturo, 2013. "The Macroeconomics evaluation of Climate Change Model (MECC-Model): The case Study of China," MPRA Paper 49158, University Library of Munich, Germany, revised 18 Aug 2013.
  6. Ruiz Estrada, M.A., 2011. "Economic modelling:definition, evaluation and trends," MPRA Paper 40584, University Library of Munich, Germany.

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