Policy modeling: Definition, classification and evaluation
AbstractThis 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 InfoArticle provided by Elsevier in its journal Journal of Policy Modeling.
Volume (Year): 33 (2011)
Issue (Month): 4 (July)
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Web page: http://www.elsevier.com/locate/inca/505735
Econographicology Policy modeling Economics teaching Multi-dimensional graphs and multi-dimensional geometry;
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- 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.
- 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.
- 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.
- 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.
- Ruiz Estrada, M.A., 2011. "Economic modelling:definition, evaluation and trends," MPRA Paper 40584, University Library of Munich, Germany.
- 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.
- 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.
- 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.
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