Comments on the evaluation of policy models
This paper examines the evaluation of models claimed to be relevant for policy making purposes. A number of tests are proposed to determine the usefulness of such models in the policy making process. These tests are applied to three empirical examples.
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References listed on IDEAS
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- Jeffrey A. Frankel, 1990.
"International nominal targeting (INT): a proposal for overcoming obstacles to policy coordination,"
Federal Reserve Bank of San Francisco, issue Nov, pages -.
- Frankel, Jeffrey A., 1990. "International Nominal Targeting (INT): A Proposal for Overcoming Obstacles to Policy Coordination," Department of Economics, Working Paper Series qt4rn0t6wv, Department of Economics, Institute for Business and Economic Research, UC Berkeley.
- Jeffrey A. Frankel., 1990. "International Nominal Targeting (INT): A Proposal for Overcoming Obstacles to Policy Coordination," Economics Working Papers 90-135, University of California at Berkeley.
- Hoover, Kevin D & Sheffrin, Steven M, 1992.
"Causation, Spending, and Taxes: Sand in the Sandbox or Tax Collector for the Welfare State?,"
American Economic Review,
American Economic Association, vol. 82(1), pages 225-248, March.
- Kevin D. Hoover & Steven M. Sheffrin, 1990. "Causation, spending and taxes: sand in the sandbox or tax collector for the welfare state?," Proceedings, Federal Reserve Bank of San Francisco, issue Nov, pages -.
- Hoover, K.D. & Sheffrin, S.M., 1990. "Causation, Spending And Taxes: Sand In The Sandbox Or Tax Collector For The Welfare State," Papers 67, California Davis - Institute of Governmental Affairs.
- Hendry, David F. & Ericsson, Neil R., 1991.
"Modeling the demand for narrow money in the United Kingdom and the United States,"
European Economic Review,
Elsevier, vol. 35(4), pages 833-881, May.
- David F. Hendry & Neil R. Ericsson, 1990. "Modeling the demand for narrow money in the United Kingdom and the United States," International Finance Discussion Papers 383, Board of Governors of the Federal Reserve System (U.S.).
- Robert J. Barro & Mark Rush, 1980.
"Unanticipated Money and Economic Activity,"
in: Rational Expectations and Economic Policy, pages 23-73
National Bureau of Economic Research, Inc.
- Granger, C. W. J., 1988. "Causality, cointegration, and control," Journal of Economic Dynamics and Control, Elsevier, vol. 12(2-3), pages 551-559.
- Dutkowsky, Donald H, 1984. " The Demand for Borrowed Reserves: A Switching Regression Model," Journal of Finance, American Finance Association, vol. 39(2), pages 407-424, June.
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