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Networks and economic policy

Author

Listed:
  • Matthew L Elliott
  • Sanjeev Goyal
  • Alexander Teytelboym

Abstract

Over the past two decades, economists have made significant advances in understanding how networks affect individual behaviour and shape aggregate outcomes. We argue that insights from network economics can play an important role in the design of economic policy. Focusing on six policy domains, we show that network economics not only deepens our understanding of existing policy concerns but also suggests a number of new policy questions. In each of these policy areas, we evaluate the availability of data and assess the suitability of the network economics toolkit for policy work. We conclude with a discussion of challenges to the adoption of network-based methods in economic policy along with strategies to overcome them.

Suggested Citation

  • Matthew L Elliott & Sanjeev Goyal & Alexander Teytelboym, 2019. "Networks and economic policy," Oxford Review of Economic Policy, Oxford University Press and Oxford Review of Economic Policy Limited, vol. 35(4), pages 565-585.
    • Handle: RePEc:oup:oxford:v:35:y:2019:i:4:p:565-585.
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    File URL: http://hdl.handle.net/10.1093/oxrep/grz024
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    Citations

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    Cited by:

    1. Dossè Mawussi DJAHINI-AFAWOUBO, 2023. "Niveau d’éducation et probabilité d’être employé dans le secteur informel au Togo," Region et Developpement, Region et Developpement, LEAD, Universite du Sud - Toulon Var, vol. 57, pages 29-48.
    2. Luigi Bonatti & Andrea Fracasso & Roberto Tamborini, 2020. "COVID-19 and the Future of Quantitative Easing in the Euro Area: Three Scenarios with a Trilemma," DEM Working Papers 2020/11, Department of Economics and Management.
    3. Yang Sun & Wei Zhao & Junjie Zhou, 2021. "Structural Interventions in Networks," Papers 2101.12420, arXiv.org, revised Feb 2021.
    4. Yang Sun & Wei Zhao & Junjie Zhou, 2023. "Structural Interventions In Networks," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 64(4), pages 1533-1563, November.

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