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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.

Suggested Citation

  • Ruiz Estrada, Mario Arturo, 2011. "Policy modeling: Definition, classification and evaluation," Journal of Policy Modeling, Elsevier, vol. 33(4), pages 523-536, July.
  • Handle: RePEc:eee:jpolmo:v:33:y:2011:i:4:p:523-536
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    References listed on IDEAS

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    1. 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.
    2. 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.
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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 49158, University Library of Munich, Germany, revised 18 Aug 2013.
    2. 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.
    3. Mario Arturo Ruiz Estrada & Muhammad Tahir, 2015. "An Introduction to Alternative Experimental Models in Monitoring Economic Failures," Contemporary Economics, University of Finance and Management in Warsaw, vol. 9(1), April.
    4. Mario Arturo Ruiz Estrada & Ibrahim Ndoma & Donghyun Park, 2016. "The Application Of The Minimum Food Security Quota In Response To A Potential Natural Disaster: The Case Of Malaysia," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 61(01), pages 1-19, March.
    5. 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.
    6. Alam Khan & Zarinah Yusof, 2017. "Trade–Terrorist Evaluation Index (TTEi)," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(1), pages 365-375, January.
    7. Ruiz Estrada, M.A., 2011. "Economic modelling:definition, evaluation and trends," MPRA Paper 40584, University Library of Munich, Germany.
    8. Alam Khan & Mario Arturo Ruiz Estrada & Zarinah Yusof, 2016. "Terrorism and India: an economic perspective," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(4), pages 1833-1844, July.
    9. Mario Arturo Ruiz Estrada, 2014. "Economic Waves: The Effect of the U.S. Economy on the World Economy," Contemporary Economics, University of Finance and Management in Warsaw, vol. 8(3), September.
    10. repec:spr:qualqt:v:51:y:2017:i:3:d:10.1007_s11135-016-0336-z is not listed on IDEAS
    11. Ruiz Estrada, Mario Arturo & Koutronas, Evangelos, 2016. "Terrorist attack assessment: Paris November 2015 and Brussels March 2016," Journal of Policy Modeling, Elsevier, vol. 38(3), pages 553-571.
    12. Alam Khan & Mario Arturo Ruiz Estrada, 2016. "The effects of terrorism on economic performance: the case of Islamic State in Iraq and Syria (ISIS)," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(4), pages 1645-1661, July.
    13. Estrada, Mario Arturo Ruiz & Yap, Su Fei, 2013. "The origins and evolution of policy modeling," Journal of Policy Modeling, Elsevier, vol. 35(1), pages 170-182.
    14. Neantro Saavedra-Rivano & Mario Arturo Ruiz Estrada, 2016. "An alternative free trade agreement scheme to developing countries: the micro-free trade territory (MFTT)," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(5), pages 2293-2311, September.
    15. repec:spr:qualqt:v:51:y:2017:i:5:d:10.1007_s11135-015-0280-3 is not listed on IDEAS
    16. Mario Arturo Ruiz Estrada & Donghyun Park & Ibrahim Ndoma & Jung Suk Kim, 2016. "Korean unification prospects: an assessment through the BDN-model," Quality & Quantity: International Journal of Methodology, Springer, vol. 50(3), pages 1059-1072, May.

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