Assessing Modelling Approaches to the Distributional Effects of Macroeconomic Policy
This article outlines a set of desirable properties of an adequate model for assessing distributional impacts of macroeconomic policy packages, and uses these as criteria to evaluate four model types commonly used for such assessments, namely, fixed ratio, econometric, CGE and microsimulation models. The desirable properties fall into five broad groups: being able to represent policy levels used in the policy packages, allowing for both price- and quantity-clearing markets, integrating financial stocks, representing short-term dynamics, and providing measures of confidence in a model's output. Of the model types reviewed, CGE models perform the best on most criteria, in spite of their substantial flaws of non-verifiability and lack of short-term analysis. Copyright Overseas Development Institute, 2005.
If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Volume (Year): 23 (2005)
Issue (Month): 3 (05)
|Contact details of provider:|| Postal: |
Phone: +44 (0)20 7922 0300
Fax: +44 (0)20 7922 0399
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0950-6764Email:
More information through EDIRC
|Order Information:||Web: http://www.blackwellpublishing.com/subs.asp?ref=0950-6764|
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Devarajan, Shantayanan & Go, Delfin S., 1998. "The Simplest Dynamic General-Equilibrium Model of an Open Economy," Journal of Policy Modeling, Elsevier, vol. 20(6), pages 677-714, December.
- Decaluwe, B. & Martens, A., 1988.
"Cge Modeling And Developing Economies: A Concise Empirical Survey Of 73 Applications To 26 Countries,"
8816, Laval - Recherche en Politique Economique.
- Decaluwe, Bernard & Martens, Andre, 1988. "CGE modeling and developing economies: A concise empirical survey of 73 applications to 26 countries," Journal of Policy Modeling, Elsevier, vol. 10(4), pages 529-568.
- Easterly, William, 1997. "The ghost of financing gap : how the Harrod-Domar growth model still haunts development economics," Policy Research Working Paper Series 1807, The World Bank.
- Feltenstein, Andrew & Shah, Anwar, 1995.
"General equilibrium effects of investment incentives in Mexico,"
Journal of Development Economics,
Elsevier, vol. 46(2), pages 253-269, April.
- Feltenstein, Andrew & Shah, Anwar, 1992. "General equilibrium effects of investment incentives in Mexico," Policy Research Working Paper Series 927, The World Bank.
- Kanbur Ravi, 2001.
"Economic Policy, Distribution and Poverty: The Nature of Disagreements,"
Peace Economics, Peace Science, and Public Policy,
De Gruyter, vol. 7(2), pages 1-26, April.
- Kanbur, Ravi, 2001. "Economic Policy, Distribution and Poverty: The Nature of Disagreements," World Development, Elsevier, vol. 29(6), pages 1083-1094, June.
- J. J. Polak, 1957. "Monetary Analysis of Income Formation and Payments Problems," IMF Staff Papers, Palgrave Macmillan, vol. 6(1), pages 1-50, November.
- Godley, Wynne, 1999. "Money and Credit in a Keynesian Model of Income Determination," Cambridge Journal of Economics, Oxford University Press, vol. 23(4), pages 393-411, July.
- Khan, Mohsin S. & Montiel, Peter & Haque, Nadeem U., 1990. "Adjustment with growth : Relating the analytical approaches of the IMF and the World Bank," Journal of Development Economics, Elsevier, vol. 32(1), pages 155-179, January.
- Kraev, Egor, 2002. "Stocks, flows and complementarity: formalizing a basic insight of ecological economics," Ecological Economics, Elsevier, vol. 43(2-3), pages 277-286, December.
- Harry Markowitz, 1952. "Portfolio Selection," Journal of Finance, American Finance Association, vol. 7(1), pages 77-91, 03.
- Devaragan, Shantayanan & Lewis, Jeffrey D. & Robinson, Sherman, 1990. "Policy lessons from trade-focused, two-sector models," Journal of Policy Modeling, Elsevier, vol. 12(4), pages 625-657.
- Mohsin S. Khan, 1990. "The Macroeconomic Effects of Fund-Supported Adjustment Programs," IMF Staff Papers, Palgrave Macmillan, vol. 37(2), pages 195-231, June.
When requesting a correction, please mention this item's handle: RePEc:bla:devpol:v:23:y:2005:i:3:p:299-312. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing)or (Christopher F. Baum)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.